Ann: Renard Project Update, page-49

Consider what a registry is. A house of many rooms. The bulls in one room and knocking on the entry door for more beds , the sheep in another, and the bears in another and at the exits, swapping their tenancy for more bulls.

When that house has flushed out the bears, and those sheep who follow the bears, not thinking what happens when the house is replenished with bulls.

A ship with different passengers, some originals, some new boarders stands that same test to cross the ocean.
And if it is successful, even from a lower priced entry ticket, can deliver the same reward but a different entry multiple.

What percent of the registry was long, when we were 1.30-1.50 on the renard tide ?
So how does that change, when all but the float of price has shifted, now at 55c ?

A minority of the shares on issue have shifted since then. Hence most are long, and a minority of the registry is responsible for the float from 1.40 to 55c.
Look at the daily, come accumulated volumes in the chart below.