The SP consolidation totally failed to meet its objectives IMO.
AJA remains plaything of bots.
The price fiddle goes on unabated, making realistic price discovery murky. As long as these piddly parcels of 3 and 5 and 1 shares parade through the market, most serious buyers or sellers are staying away in droves.
I have not got a clue what is the realistic price for my holding, with SP moving up and down like a yo-yo on volume of less than 1000 shares.
There is no trend, just manipulation of few bot with opposing programs. Who knows what they are trying to do, all they are achieving is market uncertainty.
Why they converged on AJA is anybody's guess, my two bits worth is that they are accumulating larger parcels at dirt cheap prices to collect future dividends for their fund clients.
So the retail investors are being robbed by these crooks keeping SP artificially low. ASX will do nothing as usual. If this is not a conspiracy, I do not know what is. You do not have to meet in dark smoke filled rooms and whisper to each other. All they have to do is to sell 5 shares every now and then at much lower price than previous SP to keep it depressed. Then they pick up any substantial parcel for their own funds and laugh all the way to bank. Then at the end of the day the buy 3 or 1 share at higher price to make their holding appear to have higher value than it really has. They are swindling their own clients as well as the rest of the market. Unless one has access to volume weighted average, one has not got a clue.
I am exiting this mugs game, taking care not the loose too much of my capital. Management decision to reduce the distributions made the stock less attractive, not more respectable.
One can do much better in Telstra if you take in account franking credits. Retail investor can unload large parcel at a drop of the hat, without affecting the SP, divies are more less guaranteed for next two years, SP is unlikely to go lower and if it does, it is likely to rebound again.
In fact when the Future fund stops wrecking TLS SP, it is much more likely to head north rather than south. With government buying TLS assets for the NBN project, Telstra will be flash with cash and hopefully they will use it bit wiser than before.
AJA Price at posting:
$3.38 Sentiment: Sell Disclosure: Held