Hi Jezzy
what you say is true but Desie has a point. It's the basic anatomy of a pump and support campaign. Price gets pumped before the placement. Some of the placement shares are allocated to an account not directly tied to the company. These get sold at the elevated price to fill a war chest as they know traders will buy shares on the retrace after the announcement. This war chest is then used to support price above the CR price until a material acquisition is made so the campaign becomes self funding. This is just speculation on my part of course and I'm not saying it's right or wrong but it adds value to the issue and looks after the existing holders you talk about.
Hi Jezzy what you say is true but Desie has a point. It's the...
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Last
0.7¢ |
Change
0.002(40.0%) |
Mkt cap ! $3.142M | |||
| Open | High | Low | Value | Volume |
| 0.5¢ | 0.7¢ | 0.5¢ | $14.17K | 2.299M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1000000 | 0.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.7¢ | 1628565 | 4 |
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| Last trade - 12.57pm 02/12/2024 (20 minute delay) ? |
| BLZ (ASX) Chart |
