Well, no T.H. from the company despite US move so now I know this is probably not a news-based move and more likely a US based ST pump group (as is pretty evident from the low quality GIF posts).
My best guess atm is it is another operation similar to the one 2 months ago: pump it heavily again tonight, maybe even tomorrow (although that is long odds on no news) , then load up the shorts, then pressure it down around the delisting date and close the shorts with all the ASX stock hitting both exchanges. Certainly some of the posters are the same characters.
It will be interesting to see how many shorts taken out on the next US report: not many: bullish. But similar or more than last time (10%!!) : bearish.
But I hope my gut feel is wrong and this company can trade above cash backing for more than a couple of weeks to make people believe the business model might actually end up working.
The trouble with this dodgy Nasdaq move is the oversight and reporting is poor. You only get to see shorting numbers once a month it seems rather than daily on the ASX and shorting is not controlled so there is a lot of naked shorting, even apparently by the custodian/market maker as seen in recent press releases about investigations into BNY Mellon.
Anyway, even it it is just another vapid pump and dump at least the ticker goes into a few more minds and that will make any market traction from any significant business development more 'sticky' as Elkayam likes to say: "A sticky model." IMO if only someone would apply more stick to management and less stock.
MOB Price at posting:
0.9¢ Sentiment: None Disclosure: Held
