It will be interesting to see what happens to Net Shorts for end of trade for last week ie Friday 30 May - that won't be revealed until this coming Thursday 5 June. And the following day is when rebalance of the ASX 200 is announced, after the closing auction. That could lead to another fairly negative response from the market.
Based on the recent trades I'd assume there'll be a hefty increase in Net Shorts for 29 May, likely close to or above 30 million shares, ~ 9.3% of issued shares, but on the following day Short covering could reduce the Net Short position by more than 5 million shares, potentially 7 or 8 million. And then yesterday quite a big increase again, by maybe 1 million +/-.
Thus still considerable volatility and depressed share price still to play out.
Rather than an unfunded buy-out (as a suggestion by others) to try to break this volatility and depressed share price, IMO the ideal circuit breaker would be an announcement by the Company that would surprise and excite the market, be it either technical, financial or corporate - certainly much more than just another positive but interim update on 1 or more of the current or future trials. A tie-up with a BP could be 1 possibility, but IMO the future potential value based on both the imaging and therapy results to date and given the huge market potential probably at this time is premature for what I'd assume the board (and some shareholders including myself) would be seeking.
In the interim I don't anticipate the share price to do anything but remain highly volatile, and highly unpredictable.
CU6 Price at posting:
$2.00 Sentiment: Hold Disclosure: Held
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