QFX 0.00% 0.1¢ quickflix limited

it's actually illegal, but hedge funds have special permission...

  1. 1,871 Posts.
    it's actually illegal, but hedge funds have special permission to do this with the blessing of the ASX and ASIC, and no brokerage applies either,i have seen penny dreadfuls like QFX, and NKP and scores of others have their price affected in both directions, but mainly DOWN, by as much as 10% because someTHING (bot) bought $1 worth of shares at a 10% discount to the previous trading price. And just to rub salt into my gaping wounds, i got this letter from ACACIA COAL yesterday, they sent me a cheque for $68 for my "unmarketable parcel" of shares that i have held for over 10 years (under $500 in value), and they were once worth over 5k when i purchased them. Two sets of rules, one for us the great unwashed, and one for the privileged ones. Maybe one day i will find an Erin Brokevich out there that will take up the cause of the ordinary shareholder, and hold ASIC to account for not prosecuting blatant market rigging on the ASX

    http://www.asic.gov.au/asic/asic.nsf/byheadline/Complaining+about+our+decisions+or+staff?openDocument#Complaints about ASIC decisions or officers

    https://www.moneysmart.gov.au/investing/shares/how-to-buy-and-sell-shares/high-frequency-trading

    http://www.ASIC.gov.au/complain

    Dear Shareholder,

    Further to the recent letter sent to you, we advise that your unmarketable parcel of shares have been sold for 0.01390861507691 cents per share. Please note that Acacia Coal Limited has paid all brokerage costs and goods and services tax associated with this transaction. Enclosed is a cheque for $68.25


 
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