TSX:LSG.DB - Post by User
Post by
Psalm9012on Jan 03, 2014 11:27am
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Post# 22056005
Clarification on Previous Friday's "Manipulation"
Clarification on Previous Friday's "Manipulation"Recall two Friday's ago we closed at $0.45 only to have more shares trade after 4 pm than during the day to take the price down to $0.425. Got some answers to what took place and apparently it's legit. What transpired is known as "Market on Close Order" that some entities are able to participate in. Get this - it is a feature that is supposed to prevent manipulation in a stock's price just before market closing. You can Google the term to learn more. The impact on our shares was to drop it from $0.45 to $0.425 on Fri. Dec. 20 and from $0.20 to $0.16 on Jun. 21 - both in after hours trading. So my low bid at $0.44 did not have to be honoured because the trades went through after my bid expired at 4 pm. That's fair? Anyways, clearly those that sold - whatever their purpose - were the losers. Looking for a good year for LSG this year. Greg