The LNC shares on the ASX closed on Nov 15, at $0.995 AUD. The AUD to USD exchange rate is about 0.93 and when you account for the 10 to 1 multiple of the ADR, LNCGY should be trading at about $9.25 USD or lower since there will now be a hiatus of several weeks until open on the SGX for the base stock. Yet OTCMarkets shows the ask and bid as $10.92/$11.10. What is happening? There is a huge spread with very large overpayments on the US OTC market at the moment. Why?
Did any one else see the 8.5 cent drop in in the share price after the ASX closed last night. The market had closed and the real time stock quote for LNC was at $1.0825, then I get a text alert stating that the stock price had fallen below $1.00, to $99.5. I have never seen anything like it in my 20+ years of trading.I could not find one chart out of many even showing the trade that allowed the drop in PPS. The ASX's way of saying see ya! Good riddance to that penny stock trading ASX as they have absolutely no over sight at all. A bunch of crooks.