One doesn't need to be Einstein to work out what's probably going on with stocks like FAR and CVN.
They both have a share in a huge resource and both are no doubt being played.
Go back where AWE were played down to around the 45 cent mark then 3 bidders came in to try and acquire the company, it finally went for about 95 cents.
Small companies with a share in a large project are always at the mercy of big oil as its a relatively cheap alternative to drilling dusters trying to find a resource.
AC's last CAP raise was no doubt partly a defensive strategy in case we have majors sniffing around.
CVN are now in a stronger position cash wise and on the cusp of telling the market volumes and flow rates.
FAR on the other hand are a one trick pony and in a more fragile position with 6 billion shares and having to have a CAP raise just to pay the bills every 9 months.
So IMO both companies are being capped, shorters play their part in that but there are bigger forces at work behind the scenes.
When a predator wants something the first thing the do before they come in for the kill is weaken it.
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Open | High | Low | Value | Volume |
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Buyers (Bids)
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---|---|---|
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24 | 1494069 | 0.190 |
21 | 2364198 | 0.185 |
13 | 871000 | 0.180 |
9 | 445722 | 0.175 |
Price($) | Vol. | No. |
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