Australian Shares Sparty's Blog
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Posts on this website are general "tips" and nothing more than that and should never be used to make an investment or trading decision. All information should be carefully cross-checked against official sources for accuracy.
Main Forum•Minemakers ASX: MAK running hard
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A large jump in volume and price over the last couple of days. The chart below is an intraday 10 days hourly taken at 12.21 on Friday. I wonder what has set this alight?
See earlier discussions re MAK to gain an understanding of this "unloved" elephant. -
My belief was that the large jump in MAK share value was created by MAK shareholders to increase the value of MAK shares shortly before making a takeover bid for UCL. The higher the MAK price improved the 9 for 10 swap offered. Overall none of that matters. The Q is: When will this unloved elephant become a share price daring. I'd suggest at least a year from now.
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History shows that the spike in MAK shares was designed. The share price spike was a ploy by MAK shareholders to try to increase MAK's value before trying to buy up UCL at an unreasonable price. After UCL's shareholders rejected the takeover MAK shares went back to their share price before the bid.
