For sure. It seems like we've been lumped into a basket of stocks and there's large bets against us from US investment banks. For example CU6 and PNV trade very similar to us and they have very high short interest (much more than us). I don't have an opinion of either company but NEU is not needing cash to expand but it's constantly treated like it does. Since the start of 2024 (our decline) UBS has generated 1.6b AUD of volume. Yes that's billion with a B and it's a $ figure that's larger than our entire market cap (streched over that period of buying and selling). That's excluding the likes of Merril Lynch, Morgan Stanely who add an additional 1.15b of turnover to our share trading. I can't seem to work out how they have access to so many shares, or the pool is rather limited and they trade them back and forwards. I only have broker data back to the start of 2020, so they have to be borrowing unless their clients held a large amount of shares prior to 2020 (which is also possible).
NEU Price at posting:
$12.73 Sentiment: Buy Disclosure: Held
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