stock behaviourI have been thinking on the strange behaviour of the bid/ask this week. The big seller that keeps popping up on the ask side is so interesting. They still have not sold much of the what they listed so it seems that they are not trying that hard to really unload. Why list is 0.27 one day and then 0.26 another day. Just not how one sells something that you want to get out of.
My hunch is that RDW and friends (who are heavily invested and have never sold) are possibly involved. Not so much insider trading...hear me out. I'm not try to suggest illegal things.
If they need to do another PP, they know that people will be ok with it as long as the amounts are not huge AND if they combine it with otherwise good news. Such as AUA news. Usually in the run up to something like AUA share prices increase but it would not make for a happy crew to have a bunch of people buy big in the run up at prices like 0.3 and then announce a PP with 0.25 that has already been subscribed (privately). All the people that bought from 0.27 to some high run up price would feel angry and poorly done by. So the solution is to have someone put a wall ask out there so that the price stays around 0.25. When the PP gets announced, no on feels anymore decieved or hard done by as they didn't excitedly buy large amounts at 0.3 or 0.35 in the past week. Recall that the giant ask only pops up when there is a hint that it is going to go above 0.27.
Not sure how one would do this on a practical level but I feel like it's main role is to keep price lower for the moment.
Otherwise, I continue to believe in the science more than I believe in the company. The science is worth more than this market cap and that makes me confident that will do fine in the long run (yes we are already at the point have a long run so slightly longer run...)
GLTA