The bot that is running on the sell side about 300shares, 15minutes apart, had a short break yesterday with the announcement, and started up again today.
If I had to guess its purpose :-
(1) Erode the share price, and create volume at a lower price, to suck up when appropriate.
(2) A larger shareholder gently unwinding their position.
If (2) then there maybe a change of interest due, if the shareholder is top 20.
I suspect (1).... There have been bigger chunks in selling from that source, I think an occasional buy... Assume though 300 shares, once every 15 minutes, for 8 hours a day at current price of 0.3. I am sure how long it has been running, but at least 20 days, maybe longer...
300*4*8*20*0.3 = $60,000 worth so far.
They need to get the volume on the sell side, up to pay for this strategy, so far only about 160,000 shares in reasonable reach... so he bot continues.
If you are running the bot please let us know your thoughts?
Ann: New Seko Results Continue to Impress, page-7
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