I don’t think the 17m trans is short covering, I think it is a pre-arranged to someone who didn’t get enough or any at the cap raise from someone who already had enough regardless the cap raise, and wants these ppl on board. The price was sent down so the sale could take place on rather than off market. Good luck to them, they obviously support the company and want to be part of it.
EWC Short Selling, page-14
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