I found the Auction Bulletin, and it's official. In China, they don't fool around with the State-owned stakes in any company. The "indicative price" was a fair price based on serious appraisal by the auction house hired by the local government..
Remember, this game is to flush out the weak hands in retails. Judging by the volume, a few left.
Enjoy the game of walking it down by the MM's - they're trying very hard - buy and sell in small lots. There is no big seller. None. Thus, shorts are in deep trouble, as the cheap shares dwindle - they have no way to cover.
I'm a buyer - only bid but not chase. Let the shorts chase it. It's only a matter of time.
It's a win-win situation - I buy it low, as low as possible. And Some big money in China will buy the whole thing over $5 - that is as certain as the sun always comes out. Always.
My goal is to collect 200,000 shares, if only those idiots will let me. Can you see an instant double or triple? I can. Even if it would take a few more weeks for the deal to complete. There isn't any real downside from here. None.
The "problem" was that the Wall Street was caught off guard - no fund owned any significant stake. As a result, they must build stakes from scratch. The only way to do it is to push those stupid retails out, who have been holding the bags for too long and too painful in this game.
So, play along with "them". Let the chips fall, as far as possible. And for once, the retails will win bigger than the funds trying to rebuild. Oh, of cause, we must trap the shorts. The lower the better !!
Understand who are really "selling" - there is no really big seller. None. The market makers are doing buy and sell constantly - faking. And the stupid retails were fooled to get out, and those moronic shorts followed into the traps.
No body in the US owned big stake in this company. So, the trading/selling is all Faked.
I've been on the bidding side since $2.30 down. Now, I have 50,000 shares between $2.10 and $2.30. LOL
God I can't tell you how relieved I feel to know you covered and are now on the long side h_grant. Knowing your history of losses I'd hate to be caught on the same side of a trade as you.