AON 0.00% 1.3¢ apollo minerals limited

Now I know the SP is being smashed due to the basic laws of...

  1. 2,267 Posts.
    Now I know the SP is being smashed due to the basic laws of supply and demand but I keep on scratching my head wondering who is stacking the sell side with fake bids and why?

    Unlike when our previous substantial shareholder HPX wanted out and did so by placing market sell orders, we have someone in the top 20 (need at least 5Mill shares to make our top 20 based on last annual report) placing bids like 7Mill shares at 4c to make it look like there are more sellers then there actually is. There are only a dozen shareholders who could do this. Not to mention the one to two million sells close to market that constantly pop up and then get pulled. Clearly these type of bids aren't serious sells and only serve to flush out weak frustrated sellers causing a SP slump.

    So why is this occurring?

    I only have a few suggestions but perhaps other may have more.

    1) Someone is pissed at management and are trying to hurt their reputation. This would require the manipulator to not care about their own wealth because stacking the sell side lowers the SP and lowers their wealth. (plausible)

    2) Someone is trying to suppress the SP for a low ball takeover when AON hits something decent. (long shot)

    3) A broker is trying to keep it low to place cheap stock when AON run out of money. (likely)

    4) Someone is trying to accumulate. (unlikely perhaps as it has gone on for too long and the SP has fallen too much)

    Thoughts welcomed.
 
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