or just someone decided to short the 800k ?
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or just someone decided to short the 800k ?
Wow, this stock is a classic textbook example of:
Attachment 11898
I'm pretty sure those bids at $1.41 are nothing more than day traders watching the depth chart and jumping 1-2c ahead of the sharesies bid, knowing full well that there is a wave of buyers behind them to push the price up to $1.47 for example and they can sell it straight back to them.
Right that makes some sense but if the sharesies bid were market orders shouldn't orders have been getting matched with higher offers? It seems like it just sat there @ $1.40 accumulating more and more buyers. When the price got up to $1.48 the sharesies bid was still sitting at $1.40 with over 3000 orders.
then are you suggesting us traders can game sharesis algo by taking out the buys and moving the big bid up each time the price moves up.
If sharesis uses market orders then they should be executed at the price available not sit a couple cents under the current price
The problem with the sharesies algorythm is that it will not always bring a market order to market. It does not do that because it wants to keep markets orderly and not push the price. For example I was wanting to by a stock with a spread of 9.8 bid and 10 cents offered. I put in a market bid but the sharesies algorythm put my bid in at 9.8 so as not to "upset" the market. If they took the 10 cents then that would have been the first time the stock traded there.
So in yesterday's CBD example, the algorythm will put a market buy on the bid side but wait before someone takes some of the offer before moving your "market" order up to the next level. If all of the offer gets taken, well there is nothing left for the sharesies algo to take and they sit dutifully on the bid waiting for the next line up to get hit.
Yes it is easy to game it if you can see it on the depth, we have done so a few times in select stock.
Sharesies really need to fix this "bug" in their system or they will lose credibility fast.
(on the other hand, I understand why they have this protection in place. Imagine yesterday that market orders were processed exactly as that... market. Just buy what is available. On a low traded stock with low liquidity the CBD price by weight of orders and volume could have been purchased up to $2.50 before more serious punters were aware of it and pushed the price back to normal levels. That is why they have the algo, to create orderly markets.)
Thanks for the reply, this makes a lot of sense now. However, shouldn't the sharesies algo also match the top bid every time it goes up? It sat below the top bid for most of the day, that's the part I find strange. In the pic I've attached below, the sharesies bid is sitting below the top bid (as it was for most of the day), it's also sitting below the last offer that was matched.
Attachment 11901
You would think so that it should. It is possible (without having asked them) that the top bid had not been traded at that price? But I see that on your screenshot $1.42 was the last trade, so yes in theory they should be happy to go at $1.42. Really quite miffed by their algorithm but do understand the need for it. They need to tweak it somewhat though because at the moment it is far too "transparent" and easy to take advantage of and game.
Cheers, explained it a lot better than my effort. When there are 4000 bids in the queue and 60 sells as there were yesterday, it could get out of hand real quick if they didn't act responsibly with their "market" buys.
Twice I sat and watched the bid table and by constantly refreshing, could see 4000 buyers move their price up 2-3c at a rate of around 200 buyers per browser refresh. It would stay there for 5-10 minutes until it was being outbid by 1 or 2 levels and it would do it all over again. It was definitely easy enough for traders to outbid the sharesies "market offer" throughout the pump.
tried to buy on the close on friday for another punt but was outbid oh well , looks like plenty of buyers this morning my bad lol
Yes the bids are flooding in...
got the bid in the 1000s again reminds me of those fish that dart back and forth in the ocean
Some news reports say its share price crashes due to the half year report, in particlar, more loss within the recent year. This is ridicious. From my experience, in a high tech company, loss simply means higher R&D spending, which is definitely a good thing. I wonder if some people are using this to push the price down and then take more stocks for future gains.
up nearly 50% already lol
NZX's web page ,, WHATSUP !!
Nothing illegal about that Ogg. If people were putting orders into Direct, or ASB and frontrunning those would you be calling for Direct and ASB to be suspended? If sharesies punters want to have their order filled they need to put in a limit order.
I will admit their algorithm is a bit suspect but you need it to safeguard market integrity in illiquid stocks. But it is what it is. An open and transparent market.
If you want to go and "front run" go buy a bunch of CBD right now at $1.06 and see you successful you are. Liquidity will catch up in the end. Instead of complaining about it, do something about it and beat them at their own system. If enough punters are sharesies get Pissed enough they might change their settings.
There we go, all the sharesies bids at $1.04 got taken out. What do front runners at $1.08 do now?
Day traders rushing for the door
I must say I am somewhat perturbed that Sharesies don't show the depth (Seemingly you can pay them $10 a month to see it) and therefore funnel the noobs to blindly market buy things.
Probably fine for big stocks but for ones like this, the poor noobs will get owned.
SP dropped from $1.19 to $0.94 @ 10: 50am Noobs have already been owned early in the morning. :eek2:
It sure is fun to watch!Buyers coming back now
this is a great stock , we love you sharesis
Yeap , looks like someone's playing sharsies. The sharsies algo, I don't see as the issue. It's being driven by the sharsies users... blind greed...
I do think the sharsies operators need to step in though. Its not particularly clever to have your customers behaving like lemmings.
Free market though. You can't blame the seller...
I am not aware about the Robinhood controversy. But If sharesies have been selling order flow info that would be a travesty. I think they are a bit naive with their Algorythm. But if you are in their shoes, what would you do? You are getting multiple orders to purchase at market... if you just let them go at market you would still get the same price action. That said, others could not take advantage as they are obviously doing now. And the sharesies buyers that are always a few cents off the bid end up getting hit at a certain price that will most likely be too high. But then again if you are going to use sharesies as your broker in stocks that are not frequently traded, caveat emptor. Sharesies do offer limits. So you can always put in a limit buy and stop this nonsense.
How do we know it's sharesies that are actually the problem, and not NZX being unable to cope with the volume of trades on a single stock - not matching them to sellers quick enough and sticking them in a queue. Given all the delays and issues they've been having all year, i'd say that's very possible.
Orders appear to be pooling @ 86c, presumably the sharesies bid...again sitting 4-5c below the top bid
edit: finally got moved to the top
Appears to be another pump building. I put in a limit order at $1.00 with sharesies, which should be matched right away as plenty of shares being offered at that price. Looks like I've just been thrown in with the market order though.
I know...I was responding to someone who said it didn't look like a pump was building.
It takes the algo ages to move it up. I watched the same thing when the algo was sitting at 86c and the top bid was 91c, it took the algo about half an hour to move.
Well today I learned that if you're quick, you can easily jump ahead of the Sharesies queue and get out while they are still moving up the bid. (In and out for 20% gain within 30 minutes of market open.)
Hey team,
I'm new to this forum, but have been pesting around the market (admittedly with little depth until now) for a few years.
I've been monitoring the movements on CBD as well as the accompanying commentary here and on the Sharesies FB page with great interest and have been trying to figure what's driving this (and BGI when it took off a few weeks back).
Do I understand correctly that Sharesies market bids can generally be identified by the disproportionate number of buyers & a relatively low average volume?
For example:
https://www.sharetrader.co.nz/image/...BJRU5ErkJggg==
When these market bids take a while to accumulate and execute, is it presenting opportunity for someone not on Sharesies to jump ahead of the pack and nudge up the price?
https://nz.news.yahoo.com/opioid-cri...165837992.html
This is how the opioid can do to human.
An estimated 21-29% of patients who are prescribed opioids for chronic pain end up misusing them, according to NIDA, while 8-12% develop an opioid use disorder.
Tens of millions of Americans became addicted to prescription opioids and tens of thousands died of overdoes in the two decades that followed. In recent years, the overdose crisis accelerated after synthetic opioids like fentanyl began flooding the U.S.
‘A lot of the problem has to do with regulation’
The pharmaceutical industry’s opportunism — enabled by the backing of politicians and federal regulators — along with the emerging medical consensus that opioids were highly effective for pain management, led to opioids taking hold in American society.
https://nz.news.yahoo.com/opioid-cri...165837992.html
‘We restrict the treatment and make it really difficult for people’
Ironically, regulation related to opioid addiction treatment in America is actually much more stringent than the policies and procedures that fueled the opioid crisis.
There is a ton of red tape related to medication-assisted treatment (MAT), defined as “the use of FDA-approved medications, in combination with counseling and behavioral therapies’ to treat substance use disorders.
“Any doctor can write a prescription for opioids but to write prescriptions for people to get medication-assisted treatment, they have to have a special license,” Currie said. “Then the number of people they can treat is restricted. So we restrict the treatment and make it really difficult for people to get treatment once they’re addicted, and then we make it really easy for them to get addicted. And then we wonder why we have this big problem.”
https://nz.news.yahoo.com/opioid-cri...165837992.html
And this : From $30 to $5 .
Zhiyuan Sun, The Motley Fool
Motley Fool29 August 2020
Stocks of Canadian weed growers have done nothing but disappoint investors this year. Given cheaper prices in the black market, oversupply lingering on shelves, demand falling below expectations, store closures from the effects of COVID-19, and mass inventory writedowns, many are wondering if the sector will ever recover.
https://www.fool.com/investing/2020/...ck-to-buy-now/
Roll up roll up to the Cannasouth Circus. Not sure what will happen today but its damn fun to participate in this amusement ride!
break of 1.06 might be a lower low on the 15 min chart?
Gone quiet here now.Damn,ill have to do the lawns
I suspect some were hoping to game the Sharesies market buy algorithm to push it higher, before dumping another lot for a quick profit, but seems the Sharesies broker has caught on and kept their market buy orders sitting at 98 cents. Hardly a effective market buy option when it’s several cents behind. Great way for their members to miss out if the share price did continue rising. Seems a broken system.
https://nz.news.yahoo.com/aurora-can...100608291.html
Aurora Cannabis' (TSE:ACB) Stock Price Has Reduced 86% In The Past Year
Simply Wall St
Simply Wall St.2 September 2020
You are making some interesting observations. For something to go up by 3000% is the same as going from $1.00 to $31.00 (using an example).
Now it only takes a 96% fall for this stock to fall back down to $1. Granted not as much as in the example where it was only 86% but one needs to be careful with percentages.
A 100% gain followed by a 50% fall gets you back to parity.
A 200% gain followed by a 66% fall gets you back to parity.
A 1000% gain only requires a 90% fall to get back to parity. The maximum a stock can fall is 100%. At that point it is zero. The maximum upside is unlimited. A good lesson also for letting winners run.
All I know is that %ages cannot go to infinity
1 1 was a racehorse
2 2 was 1 2
1 1 1 1 race
2 2 1 1 2
And they’re off!
Cannasouth receives first commercial licence from MoH
https://www.nzx.com/announcements/359936
A pretty big milestone. Might get it back into the sharsies facebook discussion...
GENERAL: CBD: Cannasouth receives first commercial licence from MoH
New Zealand's only NZX listed medicinal cannabis company, Cannasouth Limited
(NZX:CBD, Cannasouth), is pleased to announce that its wholly owned
subsidiary Cannasouth Plant Research New Zealand Limited (CSPRL) has been
granted the first of its required licenses to cover the commercial activities
of the group under the New Zealand Medicinal Cannabis scheme.
This first license covers CSPRL's Hamilton site and allows both medicinal
cannabis cultivation and possession for manufacture with certain authorised
activities.
CEO Mark Lucas says "this is an important milestone in Cannasouth's
transition from a research and development company to a commercial medicinal
cannabis company." "As a company, we look forward to supplying New
Zealand-produced, next-generation medicinal cannabis products for local and
export markets, and this is another step in that journey."
Additional licenses are being applied for to cover the cultivation activities
of joint venture partner Cannasouth Cultivation Ltd (CCL) and the commercial
extraction and manufacture activities of subsidiary Midwest Pharmaceutics NZ
Ltd (MWL).
Marijuana use increases pain after surgery, requires more anesthesia, study finds
(CNN)If you think smoking or ingesting weed helps control pain of all types, think again.
Using marijuana before entering the hospital for a surgical procedure can make your pain during recovery significantly worse, according to research presented Monday.
https://edition.cnn.com/2020/10/05/health/weed-pain-anesthesia-increase-wellness/index.html
Usually people who have surgery don't consume anything as advised by the docs etc. Think you'd be pretty stupid to smoke one before surgery!
You can't cure stupid!
I had the displeasure of sudden onset of kidney stones on NYE last year. Hospital staff kindly and very promptly pumped me with liberal amounts of morphine and a couple oxy's. Ended up having a really great New Year!! Way better than a lousy joint.
Still voting yes though.
For a company formally founded barely 2 years ago and yet to generate any revenue, you'd think that the co-founder and Executive Director wouldn't be wanting to retire so soon...
https://www.nzx.com/announcements/361110
Probably best to get out before the share price (and possibly company) collapses I suppose...
$110m market cap for a company that looks to be built on smoke and mirrors
- Their shares initially increased, some more than 500%, as investors priced in their anticipated success. The companies took this opportunity to raise more and more money at higher prices and use it to fund their growing sales teams and research budgets, build glasshouses and other infrastructure ahead of demand, and invest in joint ventures and acquisitions of other related businesses. Cannasouth has, so far, look to follow a similar path.
- After about two years, sentiment appears to to wane as company earnings routinely missed investor expectations. This led to a prolonged fall in share prices, with almost every company now below its listing price. Even three of the largest cannabis companies - Aurora, Tilray and Hexo Corp - have fallen more than 90%.
This chart shows how a number of listed medicinal cannabis companies have performed leading up to, and after, cannabis legislation was reformed in their respective home countries. Each has different product sets, target markets and regulatory frameworks, but they have all shown a common trend:
Attachment 12013
Cannabis bubble set to burst?
https://www.nbr.co.nz/story/cannabis...urst/#comments
Paywalled NBR article on cannabis. Thought it summed things up quite well.
Cannabis investment offers need some regulation and oversight... most appropriate body to provide it is probably the TAB.
Oh dear... more on market sale of shares by Directors..
https://www.nzx.com/announcements/361581
https://www.nzx.com/announcements/361652
Another one dumping...
Very quiet here considering the referendum now looks unlikely to pass with preliminary votes showing "Yes" is 167k votes behind. Still a chance on specials but got to be an outside chance.
Share price down 15%.
The referendum shouldn't have any bearing on a medical cannabis company, should it? But I guess it shows you the public perception of this company/industry.
Yes, there are an estimated 480k special votes to count and they come mostly from the young, un-enrolled, overseas voters and the prison population. All of which would be more likely to vote yes you would think. "Yes" will need to win about 67.4% of the special votes for the referendum to pass.
when the referendum is a confirmed no, and CBD share price halves sometime within the rest of the year, I'll then be able to say "CBD looks overvalued" from its current position where words can't describe how ridiculously 'high' (if you'd pardon the pun) the share price still is.
Special votes in 2017 swung left by <2% so I can't see it getting near 67.4% unfortunately.
edit: That's how much they swung the total vote, so it would actually be a lot higher. Can't find exact special vote numbers, just how much the final result changed.
Another day, another director dumping
https://www.nzx.com/announcements/362985
Is it too early to say CBD is a ponzi scheme?
Certainly the steam is slowly coming out of the share price. Ex-director selling, but still a significant holder and looks like slowly dribbling shares into the market. Said at the time of his resignation that was going to remain a longterm investor.....
Maybe needs pumping on Sharsies again??
On other matters, their "Ask Us Anything" campaign.
https://www.nzx.com/announcements/363069
please explain why you are getting too high too fast?
http://nzx-prod-s7fsd7f98s.s3-websit...248/347491.pdf
The price of CBD has increased from $0.41, being the market closing price on 27 May 2021 to $0.48, being the price at 12:00 PM on 1 June 2021. This represents a total increase of $0.07, or 17.07%.
...(crickets)