For us long term holders who watch the stock closely it is very deflating and I can see two ways to look at this sale. Reason 2 might well be the case but Reason 1 is absolutely the case.
1 - CUV just starting to build some excitement after continual falling SP since FDA approval, holders getting a bit optimistic, great half year results, more to look forward to, director buys some shares, shorters potentially facing a squeeze with 2.5 Million to buyback in a tightly held stock. Then bang out of nowhere Dr Wolgen sells over 100K shares and that is all that will be talked about for now. Most left wondering why and why now?
or
2 - Wolgen was short of a dollar and needed to sell some shares to source cash.
Let's see what next week brings but I reckon just about every long term holder will have a crap feeling about this.
Ann: Change of Director's Interest Notice, page-11
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Last
$15.65 |
Change
0.590(3.92%) |
Mkt cap ! $783.7M | |||
| Open | High | Low | Value | Volume |
| $15.27 | $15.65 | $15.05 | $967.0K | 62.66K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 227 | $15.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $15.65 | 999 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| CUV (ASX) Chart |