ARV 19.1% 10.0¢ artemis resources limited

re: options

  1. 4,784 Posts.
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    Could be a very dangerous game loading up on too many options in this one.

    If the trading pattern of the last few months continues, that is the shares being smashed regardless of good results ( and we have no reason to believe that it wont ) then we could well find the shares being sold down again as option conversion time nears.

    If that happens again then option holders ( and i include myself as having purchased options ) could find themselves in a position from mid May onwards where they cannot get rid of their options even if they want to. The market could well dry up. No one is going to want to purchase these things and convert them if they can buy the shares cheaper.

    After conversion bear in mind that many ( especially those that retain free options ) will sell the stock down on even the smallest of profit margins.

    Unless management can pull a rabbit out of the hat and gets on top of the rampant price manipulation then the cycle we have been through over the past 4 months will simply continue.

    If the pattern does continue it will make it increasingly hard for the company to raise money. With a public company everything hinges on confidence in the share price.

    As i write the stock is now sold down to $0.058 when the market is up over 50 points. A suspiciously high number of cross trades going through again today.

    The seller continues to stack the hell out of this. Currently in excess of 5M shares on the sell side up to $0.07. $0.062 now loaded up with 1,414,190

 
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Last
10.0¢
Change
0.016(19.1%)
Mkt cap ! $111.9M
Open High Low Value Volume
8.7¢ 10.0¢ 8.7¢ $1.119M 12.18M

Buyers (Bids)

No. Vol. Price($)
1 6000 9.9¢
 

Sellers (Offers)

Price($) Vol. No.
10.0¢ 1045431 6
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Last trade - 16.10pm 18/09/2020 (20 minute delay) ?
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Last
9.9¢
  Change
0.016 ( 16.5 %)
Open High Low Volume
8.7¢ 10.0¢ 8.7¢ 3524745
Last updated 15.59pm 18/09/2020 (live) ?
ARV (ASX) Chart
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