It comes down to how tightly held it really is - yes there are a billion shares but you wouldn't get that same picture if you looked at how few shares there on screen - usually if there are a billion shares on screen it's full of lines in the millions but not here - it's just a question of how many sellers are off screen. Yes the registry has tightened significantly with the top 20 having around 65% of the registry now - if you look back to PBT the reason it went from the teens to above dollar with such ease is because it has one of the tightest registry's on the ASX with 80% held by Top 20. Interesting to see where to from here it looks like it's drying up - on screen anyway.
PYC Price at posting:
1.9¢ Sentiment: None Disclosure: Held
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