volume of ~520k yesterday (and ~7.5% fall in price) while another ~450k volume today and my educated guess is that this is Regal doing what they do....trying to offload their position despite little demand/liquidity in the name
they could wait until results are announced for FY2023 in ~4 weeks time, but given they had 6m shares at the 5th of July I suspect they still have 5-5.5m shares now
look its a free market, but I'm not sure how Regal do their due diligence and risk mgmt, but building a 10-15% stake in a microcap not only impacts it on the way up, but certainly when they look to exit.......perhaps they have made their money, but as I've mentioned multiple times now, Regal is no friend to either the company involved and retail shareholders because their interest seems relatively short term and opportunistic and certainly not in the long term benefit of the company
XTE Price at posting:
35.0¢ Sentiment: Hold Disclosure: Held
