Ann: FY22 Q3 Quarterly Activities Report and Appendix 4C, page-57

The share price action on this stock does seem to warrant a closer look, imo. Yes, it has a large retail holding so it is susceptible to a lot of irrational buying and selling, but there just seems to be a deliberate effort to drive the share price down.

I've tracked the last 19 4C releases and only 6 have ever resulted in positive close for the share price. Of those 6, only 2 were significant. 7 resulted in a negative close and 6 resulted in zero movement. Of the 19, the market opened higher on 15 occasions, possibly indicating the initial reaction to the announcement was positive but that positivity was only sustained 6 times. In most cases the volumes have only been relatively low.

However, FY2020 4C release dates are particularly interesting. Volumes were completely out of character. June 2019 4C volume was
1,978,269 but tick over to Sept 2019 volume was 11,082,968; Dec 2019 - 10,967,800; Mar 2020 - 10,058,010; Jun 2020 - 11,296,017. Then come Sept 2020 volume was back down to 3,232,211. The FY2020 closed -46%. These were Covid times, we should have been making real gains in this period.

These are all time lows, there won't be anyone making money at these levels, other than maybe a few shorters, but I don't believe this capitulation is related to shorters.