It looks more like a short seller selling into the market rather than an investor offloading. Just under 40% of trades on Wed & Thur were short sales (300k+ shares across 2 days)
So the question then becomes have they built their short position to a sufficient level yet?
Big difference is that at some point these short sold shares need to be bought back & in a share that is fairly illiquid would massively accelerate a rise if the fy forecast is met & the accounting standard question is resolved.
Ann: Trading Update, page-29
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Last
53.5¢ |
Change
0.035(7.00%) |
Mkt cap ! $72.05M | |||
| Open | High | Low | Value | Volume |
| 50.0¢ | 53.5¢ | 49.5¢ | $711.4K | 1.388M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 30844 | 52.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 54.0¢ | 30250 | 2 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| PNC (ASX) Chart |