If 'someone' has info re a T/O, they are not allowed to trade on this info. And they are not allowed to manipulate the share down.
Here is a true story: a few years ago I made about 100,000 on a real estate stock - thinly traded. The stock was always bopping around between 10 cents and 11 cents. I valued the REIT smack dab at 10.5 cents. So I always had a buy in at 10 cents and a sell at 11 cents. The share was so thin it was only ME as Mr Market maker. And only with about $10k of shares at 10 cents and $10k of shares at 11 cents.
I traded $5,000 lots. If I bought $5k at 10 cents I just put it for sale at 11 cents. If I sold $5k at 11 cents, I just put the buy in at 10 cents. I made $100,000. Simply 200 trades over a year and half at $500 a trade.
I had a friend who worked at Commsec. I shared my good fortune with him one drinking weekend. I used Commsec. The Monday following the weekend my account was frozen for 'price manipulation' by Commsec. I complained to ASIC (and CC'ed Commsec). Then Commsec terminated my account.
Now if what I did was SHARE MANIPULATION and I was allowed to be 'terminated', then what is happening to WGX is complete manipulation. But maybe for OUR GOOD. Is it good I bought at 1.14 and doubled down at 1.06?
Remember, according to Commsec and ASIC one person / entity cannot buy sell both sides of the market.
If 'someone' has info re a T/O, they are not allowed to trade on...
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 (20min delay)
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Last
$2.85 |
Change
0.010(0.35%) |
Mkt cap ! $2.527B | |||
| Open | High | Low | Value | Volume |
| $2.86 | $2.88 | $2.83 | $5.068M | 1.776M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 49644 | $2.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.85 | 104299 | 3 |
View Market Depth
| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| WGX (ASX) Chart |
