Don't panic punters it is just a straight forward 'bear raid'. It has happened before to this stock, it is happening right now, and it will continue to happen in the future. It is illegal but the regulators don't have the inclination to do much about it.
The reason for this bear raid IMHO is just a bit of 'spread betting' by a Hedge Fund or two. The large shorts placed on Friday past and the high number of 328 qty in both bids and offers in the market depth at present are just two of the give aways supporting my opinion.
In fact, as canonman alludes, it presents opportunities for those who are capable.
Cheers
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Last
$16.56 |
Change
-0.950(5.43%) |
Mkt cap ! $18.16B | |||
| Open | High | Low | Value | Volume |
| $16.86 | $17.00 | $16.38 | $30.46M | 1.825M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 632 | $16.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.56 | 128 | 3 |
View Market Depth
| Last trade - 11.00am 02/12/2024 (20 minute delay) ? |
| NST (ASX) Chart |
