CUV 0.14% $14.30 clinuvel pharmaceuticals limited

The games around financial markets are really disgusting, have a...

  1. 839 Posts.
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    The games around financial markets are really disgusting, have a couple of links here from ASIC media releases which trouble me for some reason. The penalties for naked shorting and insider trading are very lenient. Please read and draw your own conclusions. I am also very puzzled as to why Clinuvel do not support shareholders in the face of massive shorting over many years, lately they do not even mention short sellers after 6 months ago saying many positive words to the ASX about 'decoupling' of value, 'striking on our behalf', buying back 1.5 Million shares, capital redistribution etc. Yesterday kept the CUV record intact of never using the BB to raise the share price, every day they have bought shares the price has been down unlike nearly every other BB where share prices increase. They are really allowing the short sellers to control the narrative and not doing what they said. No one can tell me that buying back 1.5 Million shares (out of just 50 Million shares) will not increase the SP so why aren't they doing it? The cost is tiny compared to massive cash reserves yet it looks like they will only do about 10 or 15% of the buyback at most with their actions?

    https://asic.gov.au/about-asic/news-centre/find-a-media-release/2015-releases/15-406mr-asic-accepts-eus-from-institutional-stockbroker-and-hedge-fund-trader-for-concerns-about-misuse-of-confidential-client-information/

    https://asic.gov.au/about-asic/news-centre/find-a-media-release/2023-releases/23-131mr-asic-bans-former-fund-manager-for-naked-short-selling/

    ALL IMO DYOR


    Last edited by Silverchair: 19/09/24
 
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