Ann: Loyalty Option Issue to Shareholders, page-40

Yes the drag on the SP from pip traders in this 5% range is significant. But all it does is slow the inevitable and provide plenty of liquidity to enter

Now that we have had a few days of buying, I am not seeing too many traders. Most of the traders operate on a Buy -> Sell (with CXA as @Palchum has noted), if there is only buying going on, they never get a chance. So it could pop from here, just needs a couple line wipes and FOMO will kick in from all those selling to buy a pip lower. We've seen it run violently once it breaks the churn around this region a few times last year (recently 10 to 15 Oct 11c to 14.5c), so very risky to be selling at these low prices given the prospects. It will eventually get into that 14c and not return down and many will be caught pants down