What level of investor sophistication is required to refer to selling a long position as shorting?(I can only assume that's what you meant?)
Secondly, the top 20 reduced from around 38% to 32% in the days after the acne results and further to that it was a top 20 holder who dumped through the bids at 10c. It's possible those top 20 holders were retail but I'd hardly call them unsophisticated retail investors
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