Just prior to the announcement on the obesity trial results, there was a significant sell down on this stock. A clear indication to me that the rumour mill is rampant in this company. Something tells me that if this next announcement was to be positive, there would have been a bigger run than we are currently seeing - manipulation aside (see earlier post on small trades). Yes I was badly burnt in the last fiasco and am more than slightly pessimistic when it comes to this company.
I do not believe that the current sell down is essentially Self Managed funds as suggested by Witch as most are not allowed to invest funds in speculative buys - which this company clearly is.
Also, given the major selldown of this stock after the last announcement - more than a third of the company's shares were traded, why did we not see an announcment on major shareholder stakes? I asked this question at the time but no answer was forthcoming.
Any views are welcomed as I am completely frustrated with this company but still have a glimmer of hope.
MBP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
