I don’t think it’s a strong signal. Not sure why you think that.
This is the instos (UBS?) testing the companys resolve to try and stop the price heading south and likely trying to see the $50m spent as quickly as possible so they go back to playing their games.
My view is that it isn’t the shorters but merely an accumulation technique to sell down and scare retail into selling so they can accumulate at lower prices (and no, I don’t subscribe to the theory that there is a large pharma behind this). So the volume traded by one insto may be significant but the net gain is a lot smaller. But it’s relentless when you don’t have a lot of genuine new buyers in the market and news flow is generally quite sporadic.
NEU Price at posting:
$12.90 Sentiment: Buy Disclosure: Held
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