I don't want to get too much into conspiracy theories, however maybe the below paragraph from the announcement has a clue to the large volume sell off. Would someone be keeping the price low and the volume up to reduce the price of shares for payment....
Emerald's total equity contribution will be $US1,000,000, consisting of $US750,000 in cash and the remaining $US250,000 in Emerald ordinary fully paid shares, based on the volume weighted average price of EMR shares in the week immediately prior to and after the date of this announcement.
... I'm trying to make sense of it. As this selling seems crazy otherwise. It was a great announcement, and I would assume the future was looking brighter. Oh well, what a great opportunity to buy more at historical lows, with a massive upside on the horizon.
I don't want to get too much into conspiracy theories, however...
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Last
$3.97 |
Change
-0.050(1.24%) |
Mkt cap ! $2.605B | |||
| Open | High | Low | Value | Volume |
| $4.06 | $4.07 | $3.97 | $2.957M | 738.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 4537 | $3.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.99 | 1498 | 3 |
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| Last trade - 16.10pm 26/08/2024 (20 minute delay) ? |
| EMR (ASX) Chart |