Bandanna is a microcosm that demonstrates how ASIC have...

Bandanna is a microcosm that demonstrates how ASIC have hamstrung local investors and handed price control (manipulation) over to it's preferred participants: international banks and hedge funds.

These shorts rocketing exponentially despite company trading at half cash backing and the shorters have no fear because ASIC has their back..

If any retail investor buys above 10c they will be accused of 'marking the price' and risk a multi-year jail term. (I know this for a fact as I was threatened as such), while the major international banks that are shorting this are allowed to mark the price down with orders of a value of 10c and ASIC takes no action to even have a word with them.

The only trades that retail can put on that WONT attract ASIC scrutiny are sells below last price. I know this for a FACT as when I was threatened with prosecution for pushing back against one of the professional algos, I immediately switched sides and started trading in the same direction as the algo and the threats ceased.

The system ASIC (and the ASX) have designed can only destroy the competitiveness of Australian public companies as they remain heavily capital constrained and 'price controlled' relative to peers in the countries that are doing the 'price controlling'