Efficient market hypothesis is utter rubbish when there is an...

Efficient market hypothesis is utter rubbish when there is an unequal playing field amongst market participants. Ban shorting on the ASX, and you will see a better representation of what the market values a particular stock relative to all other investment options. The current share price is a reflection of the will of big money players and their current objectives. Nothing more, nothing less. This is why the ASX is often referred to as a casino. Risk is predominantly to the downside and upside movements rely on increased likelihood of commercial success based on announced developments. No announcements and the share price will drift down as investors lose patience and shorters use algos to tick the price down in an attempt to trigger stop losses of those who are short term. It’s a self fulfilling prophecy, until new information comes to light. Positive new information could see a multiple of the current share price, the question is what risk vs return percentage are you willing to chance?