Yes looks like it could be a short term trading strategy.
Here is a possibly theory - put in a sale of 1 million shares in a thinly trading stock to cap the price at $0.098. That sell offer has sat there for quite a few days now, which indicates they are trying to send a clear message that the price is capped at $0.098.
Then just keep topping up at $0.094 for a minimum 4% profit if they are hit at $0.098. When they start getting hit at $0.098 the trader can pull the remainder of the 1 million shares (because it is a thinly traded stock it is unlikely someone will hit them for the full amount in one trade) and maximise their profit on their remaining holdings.
Why else would someone leave such a large sale volume just sitting there day after day capping the price? Why else would someone leave such a large sale volume sitting there overnight?
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Mkt cap ! $108.9M |
Open | High | Low | Value | Volume |
5.5¢ | 5.5¢ | 5.4¢ | $75.96K | 1.393M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 1472431 | 5.4¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.6¢ | 793830 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 49767 | 0.080 |
2 | 230000 | 0.079 |
2 | 136415 | 0.078 |
1 | 97825 | 0.077 |
2 | 600000 | 0.075 |
Price($) | Vol. | No. |
---|---|---|
0.083 | 137770 | 2 |
0.084 | 288879 | 3 |
0.085 | 2009000 | 2 |
0.089 | 229500 | 1 |
0.090 | 76002 | 3 |
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