"Take a look at the price action prior to the suspension on March 10 (pic below). Thats a 30% drop in 10 weeks for no apparent reason. Anybody else think that price manipulation forced WM to request suspension?"
No apparent reason does not mean price manipulation. This share has has such poor sentiment towards it, that people weren't buying. What kind of "price manipulation" are you speaking of on this occasion? I saw people not wanting to pay high prices, and holders capitulating. I also saw some profit-taking after CDU had a brief spike. A 30% price drop just shows how the broader market has thought of CDU (the broader market is not HotCopper). Not even the snippet in the AFR about CDU working a finance deal impricved the share. What can one say? With CDU, it's often been a case of sell on the rumour and sell on the fact.
Presumably WM went into suspension because there were mechanics occurring where he, and the ASX, felt that trading should not occur becausev the market was not fully informed, and that trading in CDU shares should not continue. I have seen shares being suspended in very red times, and come back from suspension in green times and be hammered for the time they were away. I hope this is not the case with CDU.
CDU Price at posting:
$3.09 Sentiment: None Disclosure: Held
