Ann: Syrah Announces Resignation of Managing Director-SYR.AX, page-73

Today's sell off shows how quickly SYR can move up and down on low volume.
Less than 300k shares were sold in the morning and the share price was approaching $3.80 after a few minutes. A major drop of around 15% without serious sell volume.

Then on a few million volume we saw $3.20. Barely 1% of the register moved the share price down 25%. This share is quite tightly held in the scheme of things.

Soon after it built all the way up to $3.90 or close to before a sharp afternoon sell off.

It could easily move up 20% or more tomorrow morning on small volume. All management need is an explanation for the shenanigans and some averaging down from existing investors. Imagine if an institution starts loading up tomorrow seeking a 100%+ return in less then 12 months.

Was it the margin loans with margin calls triggered that caused the massive drop? Was it investors that bought in yesterday or previous week exiting? I am pretty sure from the AFR article Tolga is holding onto his shares. The announcement sounds like his exit was quite amicable. Usually management keeps good news in reserve to pad a shock announcement. Maybe an offtake is imminent? At almost a 50% discount to the latest CR just over 3 months ago, this is a well funded company currently priced at a bargain.

I would be interested to understand the $3.68 dead cat bounce. To me someone is pulling out figures from thin air.