What has been happening for the last few months happens to most successful start ups. Early speculators leave the room (usually retailers with a profit) - bigger holders move in.
You can deduce this by looking at the brokers reports - whose buying whose selling.
In the case of NUH its been an easy target with plenty of retailers who got in at 6c or even lower happy to take their profit and move on. Big buyers are fully aware that there will be no big move until the first financials (or maybe even the 2nd). Each time there is a small bit of news that causes a small spike, they pull out, wait a few days, then sell it back down and start again.
When NUH is 50c check the register - will pretty much just be big holders left.
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