So all the large companies on the ASX have a pre order for stock, valued in the tens of millions and this has pushed their pre open prices up way above where they should be.
This is clear market manipulation and its a breach of the CORPORATIONS ACT 2001 - SECT 1041A
A person must not take part in, or carry out (whether directly or indirectly and whether in this jurisdiction or elsewhere):
(a) a transaction that has or is likely to have; or
(b) 2 or more transactions that have or are likely to have;
the effect of:
(c) creating an artificial price for trading in financial products on a financial market operated in this jurisdiction; or
(d) maintaining at a level that is artificial (whether or not it was previously artificial) a price for trading in financial products on a financial market operated in this jurisdiction.
Note 1: Failure to comply with this section is an offence (see subsection 1311(1)).
WHY can this just happen like that ????