Well, it doesn't seem to be a shorter. No shorts left in ARQ after Friday:-
http://www.asx.com.au/data/shortsell.txt
As sushi was pointing out for the first half of the year, the selling pressure was coming from lively shorting activity. Now, there's none left. [Some of them must have taken second-degree burns from $1.30 up.]
Therefore, it's logical that someone taking profits, not trying to suppress. If volume keeps running at 5m per day, they will have to be out before long.
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