Yeh, maybe the start of covering, im not really sure. I'm a little surprised there wasn't more covering on the high volume days, maybe Alex is right they double down or stay short on the premise that bad news dosen't all come at once. This view imo does have merit as its based on human behaviour/psycology, most companies drip feed the sad news over time because they scared of consequences of coming clean all at once so to speak. Sgh good example. So my take on it is the shorters must think the probability is that more sad news will come so they stay short and because its fallen so much they have plenty of room to change their minds, hopefully H1 will be better than expected, not neccesarily the revenue but the future outlook, signs of headwinds slowing and other commentry.
Best Wishes all.
ACX Price at posting:
$3.10 Sentiment: Hold Disclosure: Held
