If he has taken 12% then price wouldn't be $1.4. there will be 12% less shares to trade and shorts have to cover at higher price. This is a bad situation now. We don't know what is his intentions now. He may dump his 4.9%. only positive from this drama is.. there is floor around $1.3. shorts will be bit more cautious.
RRL Price at posting:
$1.40 Sentiment: Hold Disclosure: Held
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