CBD - Cannasouth Ltd

[blackcap]

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.

[Leftfield]

Wow, this stock is a classic textbook example of:

Attachment 11898

Look and learn. Until CBD achieves profitability it will be risky. AFT a much safer/profitable Cannabis play IMO.

[porkandpuha]

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.)

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.

[bull....]

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

[tomm]

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

Are you trying to buy on the HYPE stock?

[bull....]

Are you trying to buy on the HYPE stock?

good for a gamble

[MarineSalvage]

Yes the bids are flooding in...

[bull....]

got the bid in the 1000s again reminds me of those fish that dart back and forth in the ocean

[kiwitrev]

Yes the bids are flooding in...

Yep. Groundhog Day

[jhf]

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.