Could be a newbie trader selling his stock. A human error by leaving out a few zeros. Who hasn't done that.
A left over sell order where their entire order didn't get filled so the programmatic broker went down the spread to find more stock. Happens all the time.
It could be a broker or larger insto as some mentioned. But i doubt it. They generally don't play in this end of town but nothing is out of the question. If they were playing here i'd expect more volume.
Not only can brokers make trades under $500 but through ASX subscriptions and plugging directly into their system brokers can trade any amount of stock for just one large commission per year. An unfair advantage to keep stock prices down to accumulate or when heavy shorting is involved.
Recently a stock i hold had over 4000 trades all under $50 in a single day.
QNA Price at posting:
0.1¢ Sentiment: Buy Disclosure: Held
