Short term disappointment at that big volume selling and shorting overnight Friday....I am certain.
Some likely explanation may become evident tomorrow, with another change in substantial shareholding notice.....via the ASX.
Aust shares that leave for the US, risk currency volatility - why transfer these share over to the US, other than to sell them. US generally has been trading at a premium to here and much greater volumes, to offload. The shares are transferred via BNY Mellon.
Just a fact of life, that some funds will offload a portion of shares, picked up in the recent raise. (Profit taking)
All the shorting in the last couple of nights, is covered by aussie longs......thus to lock in immediate profits.
So a bit of an excuse maybe....but investors need to make up their own mind. Fundamentals overwhelming here in my view.
KZA Price at posting:
$1.57 Sentiment: Buy Disclosure: Held
