RE: solg21 Oct 2022 12:43
So BHP launches A$8.4bn bid for OZ Minerals in August... but, no, they aren't bothered about buying anything at the moment. Did he say that with a straight face?
Meanwhile, an armada of tiny little trades keep our SP down day after day - and the longer we stay down here in the 15/16s the more attractive a lowball offer of 30p-50p would look.
I've never been into the share price manipulation malarky and conspiracy theories down the years, but right now it does seem to be very clear that we are being held down purposely and for a reason. Who would sell 26 shares and pay the transaction cost which is way more than the value of those shares? (That's a rhetorical question - so no need for trading expert Quady to answer it, besides he is filtered).
Is a big buyer sneaking in at this level? Is a big seller sneaking out?
It only took a snippet of good news (merger) and we exploded up to 21p before we were walked right back down again to this level. Every day, when the SP struggles to get out of this zone, dozens of little sells weaken the progress...
It's frustrating, but I suspect it's just the calm before the storm.
A strong finish today would be a good sign that the price undermining has petered out.
It took me years to believe in the 1 share trade RNS code and one week to dispel it for me. But... News is due.
I honestly wouldn't want to be out of this one over the weekend.