That is just lousy execute from shorters, of course they always pick a stock in position like ACR and say they have a problem and that explain the fall. ACR business fundamental has not changed much, the fact FDA still recommend patients to continue while validating some accusation is not the same as telling everyone this product gona be off the shelf indefinite. In real world or normal market where only exist genuine investors the market will react to the news but not in this manner.
How many shorter will use their owned stock to short? I doubt that many, the reason they can do this is because that happen to the stock they don't own. Institution investment funds don't own those stocks either so they didn't give a cent or two if it goes into gusto, only mom and dad and granny who gave their moneys to these funds to manage are the real loser if the value of these stock went wrecked.
Let see how many shorters out there still if ASIC bring in a rule where you re only allowed to short with your owned stock, and mom and dad and superannuation holders can sue their fund manager if using their managed stocks for shorting result in wreck of their stock value and lost.
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Open | High | Low | Value | Volume |
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2 | 42222 | 0.045 |
1 | 66000 | 0.044 |
1 | 95162 | 0.042 |
1 | 24414 | 0.041 |
Price($) | Vol. | No. |
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0.049 | 120000 | 1 |
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