Just my opinion.
In addition to the decline in shorts to 10 mil, JP Morgan Custodians no longer appear in the March T20.
My guess is an investor who participated in the CR has decided to sell. However, they were unable to do so until the shares were returned to the Custodian who had loaned them to short sellers. This would explain the rise to 3 cents as the shorts bought back on market then the decline back to 2 cents as the investor sold off.
What is interesting though, is despite the lack of any news on funding, someone is happily buying up large volumes of shares at 2 cents.
Why??
Are they buying as many as they can without pushing up the SP to build a substantial position prior to making an offer to take a majority position or even a takeover???
The question I have is, what do you value ADN at, and remember the $190 Mill Tax Loss is as good as cash.
Cheers.
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Last
1.7¢ |
Change
0.000(0.00%) |
Mkt cap ! $52.87M | |||
| Open | High | Low | Value | Volume |
| 1.7¢ | 1.8¢ | 1.7¢ | $59.58K | 3.421M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 57 | 18607067 | 1.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 1.8¢ | 7568607 | 10 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| ADN (ASX) Chart |