I think the state of play is far less sinister than people are making out. My simplistic take is that the capital structure has a lot of stock that was bound to leak out to the open market at some point, on account of the huge amounts of escrowed stock (not to mention stock to be issued under performance rights if the hurdles are met).
Add in some large holders lightening/exiting, option holders selling to fund option conversions and a general lack of institutional accumulation and you have a situation with strong sell pressure and weak buy strength. The issue here seems to be that any meaningful volume is consistently met with selling, and it's going to take (imo) multiple institutional parties to come and start accumulating on market to see a turn around. Till then, the price is beholden to the will of the sellers.
It's hugely frustrating as this should be an amazing growth stock for an MT-LT hold, but the swings make it more of a trading stock at the moment lest your metal be tested by the volatile price movements
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Last
1.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $9.810M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 212896 | 1.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
1.1¢ | 200000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 199996 | 0.013 |
2 | 691666 | 0.012 |
1 | 226370 | 0.011 |
1 | 100000 | 0.010 |
1 | 120000 | 0.008 |
Price($) | Vol. | No. |
---|---|---|
0.016 | 531250 | 1 |
0.018 | 462860 | 1 |
0.019 | 1000000 | 1 |
0.020 | 218562 | 1 |
0.021 | 70000 | 1 |
Last trade - 10.25am 29/11/2024 (20 minute delay) ? |
SW1 (ASX) Chart |
Day chart unavailable