4DS Memory Releases Its Response To ASX’s Price And Volume Queries

4DS Memory Limited has been trading at higher levels since the past 12 months, and over the last month, the stock has massively gone up by 48.89%. But the regulatory body Australian Securities Exchange doubts where this positive change emerge from?

On 4 January 2019, ASX raised the price and volume related query to an information technology player 4DS Memory Limited (ASX: 4DS). The regulator noted the change in the price of 4DS’s securities from a low of $0.054 to a high of $0.070 in the previous few days. It also mentioned a substantial increase in the volume of 4DS’s securities traded from 2 January 2019 to 4 January 2019. [optin-monster-shortcode id=”swikrbu1d9j9aq0o4cko”]

Having said that, the ASX pointed out the daily volume trade of 9,090,917 shares on 2 January 2019, 22,525,330 shares on 3 January 2019, and as much as 34,246,319 shares on 4 January 219. Earlier the daily volume numbers were riding around 739,000 shares. And more surprisingly there has been no news or update provided by the company that could be substantiated for the change.

On the price front, the 4DS stock has witnessed a positive performance change of 21.82% in the past 5-days. It outlines the upside stock movement from $0.055 at the close of 31 December 2018 to $0.067 at the day end on 4 January 2019.

Looking at the overall picture of the company’s price and volume change without any announcement released to the market, Australian Securities Exchange interrogated the reason for the above-stated change.

ASX asked 4DS if it is aware of any information concerning the company that has not been announced to the market which, if released to some participants in the market, could support the change in recent trading of 4DS securities.  It also raised queries on the company’s compliance with the ASX listing rule and approval confirmation from the delegated authorities on response to ASX.

To all these questions raised by ASX vide letter dated 4 January 2019, 4DS Memory Limited submitted its response today. In response to the first query, the company stated, “No. The company is not aware of any information concerning it that has not been announced which, if released to some participants in the market, could support the change in recent trading of 4DS securities.” However, the company reaffirmed its intention to release the development report on its second 300mm wafer lot in the first quarter of 2019.

The company also confirmed that it does not know any other reason for the recent trading in its securities. Further, on compliance front, 4DS said the it duly adhere to all the listing rules mainly Listing Rule 3.1.

In the concluding statement, the company confirmed that the response to all the queries have been made as per disclosure policy guidelines and have been approved by the company’s Board and delegated authorities.

Although 4DS was trading at lower ends in the early morning trade, it can be seen picking up now. At the time of writing, 7 January 2019 (2:23 PM AEST), 4DS has surged up 1.493% to stand at $0.068.


Disclaimer

This website is a service of Kalkine Media Pty. Ltd. A.C.N. 629 651 672. The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. Kalkine Media does not in any way endorse or recommend individuals, products or services that may be discussed on this site. Our publications are NOT a solicitation or recommendation to buy, sell or hold. We are neither licensed nor qualified to provide investment advice.

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report