On Monday (15/11), AHX announced EPA approval of Xtend 21. This should be good news for ZNO. But ZNO SP went down 0.5c on large volume of 839,353.
There was no shorting activity on Monday. However shorter(s) was actively buying to cover their position on that day, and returned 729581-486334=243247 shares.
Why a good announcement has triggered heavy selling and the shorter(s) took advantage to buy and cover their position? There has been very little shorting activity in recent months.
ZNO Price at posting:
41.0¢ Sentiment: Hold Disclosure: Held
