Conspiracy theory
Maybe BGI and NZX made an agreement to inject some supply into the market, via the NTA announcement, so that it becomes a trading stock and provide BGI with liquidity and a means of raising capital
Printable View
Theory - a number very close to zero of the buyers that pushed BGI up would have any idea what NTA is let alone BGI's NTA.
it reminds me on the "2013 Penny Stock Crash in Singapore"
https://www.cnbc.com/2013/10/24/sing...cks-crash.html
"Singapore’s central bank and stock market operator are conducting an extensive review of recent share price volatility in three inter-linked Singapore companies, which wiped out billions of dollars in combined market value from the firms."
The perpetrator is on Trial today.
https://www.businesstimes.com.sg/key...arket%20value.
sigh. Feel bad for any new investors that bought around 0.090.. good case study for why you shouldn't chase gains blindly on the stock market though
And they are all back in anyway
https://www.nzherald.co.nz/business/...ectid=12350835
Multiple directors and senior management had sold shares during the latest rally, and one director sold 5,861,000 shares - more than 1 per cent of the microcap company, broking house Jarden noted.