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5.13%

$2.22 polynovo limited

Short Activity in PNV, page-5369

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BuffettWarren

1,718 Posts.

195

13/12/22

18:24

Post #: 65297696
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Originally posted by whytee: ↑

I think that in the broader picture, what you are looking at is a failed strategy by the short traders and brokers.

IMO they genuinely expected PNV would raise capital and they thought they could force it down to 50c and then help themselves to the placement of 50m shares to declare a huge profit.

They got it down to 85c when DW started buying and sentiment improved, pushing it back over $2 and forcing them to cover. Then Swami came along and his plan for expansion was another confidence booster, along with good revenue numbers. Then came the very limited cap raise at a far more favourable price and DW denied participation to traders he didn't like, but even so it was well subscribed.

They might have made some pennies out of it, but I think they previously took a hit and had to cover all the way to $4 and I suspect for all the effort over a couple of years, it really hasn't been the bonanza they hoped for. OTH, they have given loyal shareholders the opportunity to top us and position themselves for later returns at a favourable price.

So maybe we'll called it a draw, but IMO DW played them with a straight bat and defeated the attack.
We're only just starting the next innings for the company.

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So whose bat is it now? I've had too many beers!

PNV Price at posting: $2.04 Sentiment: Buy Disclosure: Held
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(20min delay)
Last $2.22		Change -0.120(5.13%)		Mkt cap ! $1.571B

Open	High	Low	Value	Volume
$2.32	$2.34	$2.22	$2.312M	1.023M

Buyers (Bids)

No.	Vol.	Price($)
25	21802	$2.22

Sellers (Offers)

Price($)	Vol.	No.
$2.23	13704	18

View Market Depth

No.	Vol.	Price($)
22	20681	2.220
23	124876	2.210
23	83791	2.200
11	131889	2.190
6	58855	2.180

Price($)	Vol.	No.
2.230	12036	15
2.240	51783	22
2.250	78405	18
2.260	70060	17
2.270	128515	11

Last trade - 12.32pm 02/09/2024 (20 minute delay)

PNV (ASX) Chart

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