I don't think recent sp lost 75% due to fundamentals. Failure of FDA should be priced at 60c when market reacted to negative advice to reject approval.
Just after that day, short positions were increased substantially to 13m short shares according to ASIC report. Instos just take advantage of FDA will rejecting approval. Negative news almost overreacted by market, vice versa. E.g SWM, FXJ kept falling, short position kept increasing, when sell off exhausted, then bounce hard
9year low..., page-30
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