What happened late last Friday should send a chilling warning to the director of every company on the ASX and their CEOs – there are forces behind share prices much greater than earnings per share, corporate strategy or corporate governance.Nearly $23 billion of stock traded on Friday – the second-biggest day of the year – on what was an otherwise pretty orderly day; Donald Trump didn’t do or say anything, interest rate futures were unchanged and Commonwealth Bank and BHP didn’t say boo. More than $10 billion of that was after-market, a time when fund managers and traders have usually headed to the pub.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Beer o’clock’s a mad $13.1b trading event for Australian shares
Two brokers traded more than $1 billion of a lithium company’s shares each late on Friday. Welcome to the equity market’s wild west.
TL;DRAI
The ASX recorded $23B in trades last Friday — second-busiest day of the year — $10B+ after close, no macro trigger. Passive and algo flows can dwarf EPS and governance in moving prices: a structural risk every CFO must price into IR and capital strategy.
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