Interestingly though the share price rallied ~100% after that canary-in-the-coal-mine cap raise, so I am not sure (much as I despise this management team) that there was really a huge amount of profitable inside selling, at least for the first 5-6 months post. You could maybe make the case from mid Jan to the disaster in March but it seemed fairly controlled and the reaction in March suggested it was still somewhat of a surprise. Whether you got out (after the news) at the July 22 cap raise or the March 23 one you still would've only got out at around the same price level.
I think that makes is somewhat tough to know how to have traded out of this from say Jun22 to Mar23. Almost like you had to give them one chance but then get out before they revealed whether they had been successful with that chance. Seems a weird psychology to adopt though as why give the chance if you aren't going to see if it worked.
Tough game, this spec punting.
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