Also note that shorts and lends are exploding. There are more shorts now on Arium at 15.5c than there have been for two months.
The last time shorts were this high the price was over 32c, so they are getting increasingly confident that the company has no prospect of a future as the market cap falls and they successfully starve the company of future capital.
Distrust of management due to the way the capital raising was handled plays into their hands and is not helped by managements inability to deliver any positive news/guidance or take any decisive action.
This is the way of the world now. Banks gamble in derivatives, we bail them out, instead of lending to viable companies the banks short them, call in their loans and make a ton of money destroying them which they then use to gamble in derivatives.
ARI Price at posting:
15.5¢ Sentiment: None Disclosure: Held
