Broker Data - NEU, page-99

Something that always complicates matters is opportunity cost. Say UBS took money out of Neuren on a given day that it had fallen and recorded a loss on that transaction but then moved it across to another biotech that was headed up because the money was part of a biotech fund so not specifically allocated to one stock. And if that transfer resulted in an overall gain then they've actually made money. I have seen times when Neuren is falling, companies like Telix or Promedicus are rising and perhaps UBS bots are sophisticated enough to shuffle money that's part of a biotech fund around between stocks such that they are overall in profit. Looking at just one stock move may show a loss but overall they may have made a profit. I don't know if this happens but I think analysing just the ins and outs from Neuren is only a part of the bigger picture.