The unalterable fact is that just days ago they had a cap raising, where 18m shares were issued at 2 cents, albeit with another lot of 10m at 7c.
On the very day of their disclosure the selling wave occurred, indeed more than 162m shares changed hands, therefore there had to have been an expectation that the 2c buyers could make a profit.
If one averages these two deals the price comes out at 3.8c - ie: Around today's close price. Therefore anyone selling prior to today was still in profit.
Looks very much like a P&D to me
GCN Price at posting:
3.7¢ Sentiment: None Disclosure: Held
