It's not just the low share price, it's the two new substantial holder notices that were lodged representing tens and tens of millions of shares purchased on market or via "cash considerations" during a period of share price decline
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I agree with you about the churn but I don’t think your statement above is true. The Squid was making purchases back in 2017 and then bought a swag of shares through a private placement with Underwriters Sprott.
No one's accumulating 10s of millions of shares on market whilst the share price has been declining. The purchasing has occurred mainly off market purely because the liquidity isn’t there to do it. Bots were used however, and helped drive the price down on low volume. In the end, the effect on WAF is the same, price gets lower as new substantial holders appear on the Register.
Perhaps GS is in line for another bucketload of shares courtesy of Sprott. Maybe the end-game draws near as you have predicted. Maybe.
WAF valuation, page-22
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Last
$1.52 |
Change
0.000(0.00%) |
Mkt cap ! $1.866B | |||
| Open | High | Low | Value | Volume |
| $1.53 | $1.53 | $1.48 | $3.819M | 2.538M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 26174 | $1.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.52 | 54794 | 3 |
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| Last trade - 16.10pm 29/11/2024 (20 minute delay) ? |
| WAF (ASX) Chart |
