It's sheer demand and supply of the actual shares. No way that much volume of new shares can find homes in any kind of near term timeframe. Subsequently there is simply no chance of capital gain even if they make a substantial discovery.
In a few years, if they stop printing, the supply may be digested, and the price can respond to fundamentals.
Appalling capital management in every sense of the word, This vehicle is clearly not being run with any consideration for shareholders..
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