The sp has been lower a few times and every time recovered. That's what some call " rinse and repeat ". There could be a force trying to get retail holder's shares. While I don't think it is the lower sp they are after - they can easily afford a t/o at $1 - it is about getting as many shares as possible before making an offer. An offer at $1 may secure them 30 -40%, but pushing the sp up and down and frustrating holders and driving them into selling may get them even more shares in the LT.
Any suitor needs to secure at least 50%+ to take control, from there it is an easier game to get the other 49%+ remaining to take over IMU completely.
All speculation at this stage.
GLTA
The sp has been lower a few times and every time recovered....
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Last
5.2¢ |
Change
-0.001(1.89%) |
Mkt cap ! $382.1M | |||
| Open | High | Low | Value | Volume |
| 5.3¢ | 5.4¢ | 5.2¢ | $216.1K | 4.106M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 31 | 1854997 | 5.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 5.3¢ | 382882 | 4 |
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| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| IMU (ASX) Chart |