It's a risk off macro situation, specs across the board are struggling to get buyers. I can tag you on companies with no issues like this one that have a similar deal on the buy side, it's all related to:
1. Instos do not really buy specs due to mandates and small MC's meaning retail is the primary driver 2. Interest rates and the overleveraged situation in Australia results in most retail having no cash as they desperately try to pay their mortgages
You can also see this reflected in the 2nd hand car market, where most things have pulled back dramatically.
Anyway if there is a CR, I'll be pretty mad but you're seriously reaching to imply that one is coming because the SP moves down a few cents due to traders....and is now back up since that. .63 at the time of writing this. Traders are just doing their things, the major holders have not panicked or lost faith in management it seems.
AW1 Price at posting:
6.3¢ Sentiment: None Disclosure: Held
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