MD got RM 2,704,462.50 for selling 24,450,000 shares at RM 0.11 per share. For sure it is margin call. Two days before he could have sold it for 4x more.
Opat also kena margin call on 19th for a sum of 200M shares.
Whoever is behind this, very well played. It is like Soros vs BoE again. Or Soros vs Daim. Laughing all the way to the bank.
if they not kena margin call they can sold at 0.45 - 0.5 earn more why choose to sold @0.11 sure kena margin call no point they topup at high price so kena margin call then buyback earn more
Basically Opat and gang wash trade about 40-60 million shares a day between, say 0.49-0.495. Will transact 10k shares at 0.50 to make chart looks nice. Whoever planned this must have insider info on the accounts used to trade, their leverage position, so they know how low they must press on their own IDSS margin. Damn respect
For sharing purpose : post mortem on Widad share transaction done by the substantial shareholder Tan Sri. In between 26/12/23 till 15/1/24, Tan Sri disposed 3% of his stake. In the particular date i.e. 15/1/24, number of share disposed by him was approximately to 35% of total daily volume (Widad). The significantly offloading of shares made it "oversupply", couple with the weak market sentiment has triggered a panic selling further to the limit down on 18/1/24. 2 batches of shares belonged to Tan Sri were "force selling" at RM0.35 and RM0.20.
On 18/1/24, when the "LD" triggered : on the morning session, in the first one hour, the trading of stock seem like (Widad) as usual excepted the share open half cent lower (which was RM.485) than the previous day. Surprise attack came about 10.45am the stock started plunged from RM0.45, less than 4 minutes it hit RM0.20.
Their wash trades even lured 大懒赌鬼 like paktua73 to plunge in @ 45c in Oct. However the chart(just like the YNH, Rapid, Leform,Mersec, SCIB & many others) screamed 'MANIPULATED' so I avoided until the green light honed by 30 years of trading experience went on on Friday & I tikam after 2 huge plunges & got a price of 11.21c which I partially picked up 2day...😘
For your info, Public Bank margin facility downgraded the share price to 5cts from 14cts..which could have created margin calls for many investors to force sell..
Public Shareholding Spread of 25 % has been complied as per KLSE ruling and If Tan SRI Muhammad Ikmal Opat Bin Abdullah become the Chairman , Widad can go back to 49cts before 17-01-24 easily..
Basically Opat was acting as Market Maker where he put blocks of 500k on both sides to keep price within a range. Break his buy wall and the whole thing come thumbling down. Remember, he not only was forced to sell much lower than he has been sitting on it for a while.
A lot of his shares were converted from his warrants at 0.35 per share. So selling at 0.2-0.35 is a loss, and at 200 million shares that is 20M even if he just lost 0.1 per share. MD lost 24 cents a share so thats almost 7M. Team Widad no longer has capability to act as market maker and stabilize the price at their inteded range (a bit like how China controls it currency) and for the first time in 4 years, Widad shares is free with market forces determining its price.
Just remember if someone in the forum tells you they sell at 30c most likely they will start at 25c and you end up holding the bag at 30c.
Except rr88. That one just spill random nonsense. He tells you the chart here is manipulated. The next thing he does is use some charting bullshit terms. Like, he said I am a liar then tell you what he thinks is the truth.
To my surprise, so far the share has been on upwards trajectory (from RM0.095 to RM0.21/ +RM0.115 or 121%) , technical reading is still did not show disposal signal from the retailers, however none of bankers are participated.
My second analysis on the bloodbath. Opat force to sell 119,533,800 shares for a total of RM 14,400,839.70 at effecteively 0.12c per share!!!! So his net loss vs his warrant conversion cost is 0.23 per share or RM 27,435,990.
In the span of 2 days, Widad ownership lost 34M at the very least.
That day got someone say this counter will break from 0.14 to 0.18 then retrace back to 0.14 before back to 0.18 and break 0.26....y the post is gone ya?
Post a Comment
People who like this
New Topic
You should check in on some of those fields below.
Title
Category
Comment
Confirmation
Click Confirm to delete this Forum Thread and all the associated comments.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
firdausabrar
18 posts
Posted by firdausabrar > 2024-01-23 16:26 | Report Abuse
resume uptrend