That dump in the auction on Friday is the largest daily volume to go through since 27 October 2014 and one would have to think that the change in volume and the sudden price drop will cause a query from the ASX seeking answers. Strange things were happening on Friday in a number of other stocks where the traders normally exit and cause a Friday afternoon sell off, but this was not apparent and the SP actually went up or maintained the gains from earlier in the day.
The Index options settled on Thursday for this quarter and this could have resulted in some rebalancing of the books by the instos on Friday. Friday's capitulation in the auction could have been one of the big instos rebalancing for whatever reason but one would have to think that given the amount these places charge clients that they would be more aligned to drip feeding the excess stock they had into the market so as to not cause a massive drop in price. Alternatively, maybe it is an insto trying to set fear into the small retail holders in an attempt to pick up stock at a greatly reduced premium. All IMO and just thinking out loud as to what might be at play.
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Last
$4.80 |
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Mkt cap ! $395.6M |
Open | High | Low | Value | Volume |
$4.69 | $4.85 | $4.68 | $372.6K | 78.36K |
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No. | Vol. | Price($) |
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2 | 5000 | $4.65 |
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Price($) | Vol. | No. |
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$4.88 | 500 | 1 |
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1 | 1221 | 4.600 |
1 | 500 | 4.510 |
1 | 4000 | 4.450 |
1 | 224 | 4.420 |
Price($) | Vol. | No. |
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4.880 | 500 | 1 |
4.900 | 5000 | 1 |
4.930 | 700 | 1 |
4.950 | 5000 | 1 |
4.970 | 2000 | 1 |
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Change
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