The other part of the calculation of course is the mathematic of the market and percentages. At present if you bought at the most recent high of $1.00 you have lost 33% ... BUT .. you will make 50% if you buy now and it goes back to $1.00. ESG is more attractive NOW.
The shorters and traders involved in what appears to be manipulation will have "maths brains" working with them advising on the mathematics and profitability of strategies. They will be aware of the above and I wouldn't be surprised (as some others have suggested) if vthey have been gradually unwinding their short positions since the low of 64.5 on 26/2. They might even be among the buyers when it turns as these's a 50% gain in allowing it to head back to $1.00.
This assumes of course that they are NOT working for STO and will be happy for it to run once they have closed their shorts.
Speculation of course .. as we all know this sort of thing does not happen on the ASX!
H
ESG Price at posting:
67.5¢ Sentiment: LT Buy Disclosure: Held
