the company is worth a mere $164 Million
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the company is worth a mere $164 Million
I placed a market order with sharesies @ 1:50pm and it still hasn't been filled...its got to be them doing this right?
Being a market order it should be easily filled with the amount of liquidity there is. 22 minutes later still not filled, normally it'd be filled within a minute.
I guess that it will be sent to NZ50 top 10.....
Are we suggesting that "they" are pushing it up. Do 'they' have to trade via a broker or can do on-line?
how do I short this stock?
I'd rather have a canna piss than a canna pee.
Dr JPG
Free Tea & Coffee.
Alcoholics BYO
I can only speculate but it seems to me like sharesies are taking market orders and piling them into limit orders which are constantly being pushed up.
I placed a market order and it wasn't filled after 22 minutes, I then cancelled it. Normally a market order would be filled within a minute.
It looks like the Sharesies market buy orders only match the highest bid price and it seems to reset every 30mins or so... So if the Sharesies bid price is already the highest then it stays the same... It might creep up to match if someone outside of Sharesies places a higher bid price just before the rest happens....hmmmm
Be careful at the current price if this were to come crashing down to under 1$ you would not be able to sell, just like trying to buy it would take along time to process your sell order and buy the time it was processed who knows how far it will have crashed, this happened with BGL it was difficult to get out once the crash began.
For all we know it could keep going up and never come back down but its risky when it looks like this.
No it won't , when it is filled then , it will collapse . and collapse bad time . But they already think about that, by the time the new arrival like Kiwi Medical and Rua will enter the market and the price will be steady in a range of $0.60-$1.20 . Hold your tiger , I sold at $0.87 , looking for it to be back at the mentioned range.
The sharesies bid line taking all they can at $1.40 reducing bidders and volume
It will collapse badly if you don't pull it back now.
more than 1000 buyers pulled back!! ( or went throught)
I parked my money at PEB for the moment.
It is stop trading!!!
This classic seems appropriate
And the winner today is.... Sharesies.
Moet for Friday drinks with all that commission.
I still can't understand why the sharesies order sat below the top of the pile for so long.
So, let's gets straight.
From their Half Yearly report, they've no revenue at all and yet the share price is about 1.30 or so, hmmm wonder how's price worked out then...can some clever guy help here!!!
Trading halted
Hopefully a well overdue speeding ticket from the NZX... will be interesting to see if the directors/insiders were the ones dumping lately... would be crazy not to start dumping at $1.40 a share that is worth 14 cents at best.
Nothing on the nzx about a trading halt.nzx is proofing to be a joke.Why is price dropping during a trade halt.
It's trading again and the crash continues!
wickeddd price action mon
$1.05 and sliding
Direct broking still showing trading halt.what a fing joke
I don't know if I can bring myself to read some of the comments that are bound to pop up over on Sharsies. What a mess.
Looked to peak at $1.48 at about 2.30pm and has now dropped to 98c. Ouch!
Depth is completely different to what it was looking like an hour ago
this kind of volatile activity rarely happens in NZX - but an increasing trend since March.
lovely stuff , get this on the asx with some stocks
any guess on closing price today?
Best pump and dump ive seen for a couple of years
Some tough but important lessons being learned today I'm sure.
my guess is 65-70c
70c to be breached
I am part of sharesies group on Facebook, it's hard to watch how clueless some of those people are...
remember - a lot of these people could be driving next to you on the motorway
60c looks good
Let all the air in the balloon come out first . should be $0.50 or even lower. or don't even bother to buy lol.
anyone checked the FB Sharesies page?
At 3:30pm I thought things looked a little shaky and went to grab a beer to watch what I thought would be some carnage unfold! Was not a question of if, but when.
Hopefully some people learned a valuable lesson from today's events - Now only has to fall another 50% and I can classify it "overvalued" where as now (at high 60's) I still can't come up with a word to describe how overvalued CBD is.
Tell them their losses may be tax deductable...
Welcome to the joy that is the share market. School of hard knocks
Look now 10 lines buy side more than sell side
They at it again
Definitely some lessons learnt for some new traders. A lot of inexperienced buyers seem to think this is the Crypto market and got roped in and burnt.
What a roller-coaster that ride was!
Sold half my shares when it was above $1.00 (ranging $1 - $1.30) and that's covered the cost of the other half which I've held onto.
Feels good knowing I've at worst broken even on CBD and everything hereafter is pure profit.
"First sign of a dip and sharesie amateurs panic, keep selling lol" someone posted this comment on the page.
Id just like to take this opportunity to thank NZX , Sharesies,Cannaosuth and all of your on Sharetrader for the most entertaining day I've had in along time
Looking forward to next week.. everyone have a great weekend
I'm still waiting for AirNZ to provide some entertainment soon.....
HEADLINES ON NZ HERALD AND STUFF TONIGHT.!
The question is whether these will try to buy more to stop loss or hold or sell or what...?
28 August 2020
Cannasouth Limited and Group
CEO’s Review of Operations
For the six months ended 30 June 2020
Cannasouth’s operations continued to track our business plans despite the impacts of COVID-19. The Company reported an operating loss for the six months to 30 June 2020 was $1,451,650 (2019: $821,175). The result was in line with the Group’s business plan and represents the significant investment we are making in developing Cannasouth into New Zealand’s leading medicinal cannabis company.
Cash on hand as at 30 June 2020 was $10.18 million (2019: $10.77 million).
No. of shares: 121,321,301
Cash per share = 0.089
Net Assets per share = 0.11
PB=6.91, PE negative.
Maybe to all these sharesies Facebook users it's become gambling now. Rather than the pokies it's the share market. 3 days of not being able to gamble must have been hard lol
Closed 9% off it's low for the day .... that's a good sign
The other problem as others have said above is that Sharesies platform buys and sells most shares at "market" which accelerates the rise and fall.
Experienced investors would go in and check market depth and then make a limit bid. When the order is placed a market price is suggested. Most experienced buyers/sellers ignore that and decide the entry / exit price.
Sharesies buyers put in a sell or buy order and then wait and see the price. Because of the way the algorithm works that means they are always buying at the highest price and selling at the lowest price because this guarantees that Sharesies get their order processed. A little bit like real estate agents they only want to make sure the deal goes through. They don't protect their customers. They make sure the deal happens and they get their commission. It's not an intelligent algorithm for anyone but Sharesies.
So, a lot of Sharesies people decided to sell because the price was $1.30 and put in a sell order. Panic had set in and it got filled at around 70 cents.
The same has happened with PEB and a few other penny stocks. IKE. PLX. etc
This is what confuses me. The sharesies bid sat below the top bid nearly all day, once it got to the top and was filled the crash began. If it were a market order(s) shouldn't it have always been at the top/it wouldn't have been such a massive order because it would have been getting filled throughout the day?
Attachment 11896
What I did notice when the sharesies bid first came to market it was $1.03 then progressively chased the price up until order filled.
This is bull****.
Not a holder. Just an observer. Daylight robbery.
Are you sure about this tango? My take on it is that a "market" buy from any of the brokers is presented to the exchange as such and the price at which it is filled is governed by the exchange, not some price determined by a broker algorithm. I've bought and sold stocks via Sharesies that have sometimes been filled by multiple parcels at differing prices, which suggests to me this is all done on the market/exchange in real time as matches are made.
My understanding is the Sharesies bids go in without a limit and therefore the exchange calculates the best match price. If people are being greedy and demanding more the Sharesies bid will keep chasing the market higher until it finds a match.
Compared with putting in a limit order which only fills at the price you bid or better b
So theoretically buy bid = $1.00
Sell bid $1.05
Limit bid would be at whatever you pick until filled. Let’s say $1.05. So it only gets filled at $1.05
If at the same time a Sharesies order is put in at market and all of the available sell bids at $1.05 are filled then the algorithm will look for the next sell offer and increase its bid to find a match. It will fill at the lowest matching sell offer but the algorithm can keep pushing the bid offer up if it doesn’t immediately get a match.
Think about pre-open and pretty close. If you keep refreshing the screen you will notice that the match price keeps changing as more bids are received. Sharesies does the same thing but on a hot market that rapidly escalated the price up and when fear is driving the sales it can rapidly spiral down
This is really only going to happen in small cap Stocks dominated by small retail investors. I can’t see this happening in the bigger companies like A2 milk or Mainfreight. I expect the big institutions will be having the most influence on price there
Cannasouth is a sexy stock and a great story. What's a story worth? Be careful.
http://nzx-prod-s7fsd7f98s.s3-website-ap-southeast-2.amazonaws.com/attachments/CBD/358912/329678.pd
I would go crazy if we saw this share do the same thing next week.