The selling has come from a range of brokers, so no specific seller (unlike the buying, which has been almost entirely HHL this year). No notice lodged suggests it's possibly just clients from last year's placement going risk-off, while they still have some profit on the table. That or we see a notice issued when a SH drops below 5%.
With guidance at the lower end of the previous quoted range and most similarly placed companies who've reported so far producing average results, I see risk to the downside in the ST, which is my only reason for not taking a position, in what ultimately looks like a very cheap stock to bottom draw. If the half year comes in as or a little better than expected, then maybe i have to pay high 6s but even then, their forward commentary (revenue & sales mix, margins and use of cash reserves) will be important and in a bear market, you'd want to see a fairly rosy picture painted to justify an entry, considering you're not receiving an income stream from dividends, while you wait it out.
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