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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 4DSâs 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 4DSâs securities traded from 2 January 2019 to 4 January 2019.
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 companyâs 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 companyâs 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, âNo. 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.â 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 companyâs 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.
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