In the absence of a substantial shareholder notice, one can only assume the move was pump and dump - way too much volume has gone through for it to be explained in any other way. The price was clearly managed at around the $0.25 and from there we've seen a complete technical breakdown. My biggest concern now is that those who played this the first time will probably do it again when interest returns. One can only guess that a certain WA brokerage house that starts with P and ends in atersons are well and truly behind this. I wouldn't be surprised to see them involved in future capital raisings. Lets wait and see. Suffice to say, they're grubs.
Doesn't change the story, but it changes the playing field and when you're a regular Joe with limited funds, that's the game-breaker.
Marchello
CNO Price at posting:
18.5¢ Sentiment: None Disclosure: Held
