share price up? why?27 Apr 2015 08:53
With regard to the recent share price spike, to me its just a plain old market scam. You have insiders trying to have this stock around 1.30 - 1.50 at the time of the primaryBid raising.
Why ?
Because all the naive retail investors will then think : " Ha, this is trading at 1.50 on market , I can get stock at 1.00 in the placing , therefore I can immediately sell at 1.50 on market and make a huge profit !!!
Wrong!! Why?
Because as soon as the placing goes through (if it does) then all those on Market bids will simply "disappear" and the new punters will be left holding useless stock.
It's gone up on extremely thin volume. If you think about it, even if it does cost you 20k or so to pump it to 1.40 or so , you still get 3 million in return . Not bad I say. Should be illegal...well actually it is...