It is not manipulation to buy and sell on market... every institution engineers support for retailers to jump on.
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Market manipulation is buying and selling on the market too so when does “engineering” become market manipulation? When does it cross the line?
I believe there is a lot of “engineering”. It’s certainly not a level playing field and small retail investors often feel they don’t get a fair deal – plenty of comments on sharetrader about that.
http://www.stuff.co.nz/business/9002...e-market-twice
FMA chief executive Rob Everett said the market watchdog was pleased with the outcome.
Market manipulation threatens our core objective of promoting fair, efficient and transparent financial markets.
"For investors to participate confidently in our markets we need to target and respond to misconduct.
"That is what this case was about."
http://www.stuff.co.nz/business/indu...t-manipulation
He also admitted to placing multiple orders for buying and selling Diligent shares without completing the trade, in a practice known as layering.
The process gave a false impression of trading interest in Diligent shares, forcing other buyers to bid at higher prices and affecting the market closing price.
Agree looks a little dodgy. Smokey room deal to trade shares to maintain a price? The depth chart is the give away orders all they way down uniformly in .5 increments.
A reminder of the closing date , is that a sign of panic ?
Standard process from what I have experienced.
Last day today for the issue, who is in ?
I decided against it.
I hold a few at an OK average, but was not prepared to donate any more money based on the lack of information and vague time lines outlined in the offer documents. Might top up if and when there is any actual positive news, with regards to the transformational customers or any real progress.