It's not manipulation. It's just profit taking. Plain and simple. The share price has risen from a low of 10cents to 46cents in a matter of months. That's a 360% profit. Slight retreat in the price from it's intraday highs is not unusual and is quite healthy.
A lot of disgruntled shareholders who have been sitting on a loss for a long time have also probably taken the opportunity to get their money back.
Don't forget that in the end, the share price still closed up 16% for the day. That's still very good in my books.
Nevertheless the coming weeks should still continue to provide some excitement as we approach the Final Investment Decision for Grieve.
ELK Price at posting:
36.0¢ Sentiment: LT Buy Disclosure: Held
