Chart Says Sell, page-81

It was difficult to defend the share price at around 50 cents with a bit of a dearth of significant new contracts recently.
A sharp drop in the price in the first 2 trading days of the new financial year should be absolutely no surprise to anyone.
In early 2020 you could pick up ALC shares any time you wanted for 15 cents each.
So more than 12 mths later there were many sitting with capital gains of well north of 150% when the FY began.
Sell first thing in the FY and pay your Capital Gains tax in 12 months or more = would sound like a very solid strategy for many. Possibly invest elsewhere.

Before you cry; "That's ridiculous! There'll be an announcement on Monday and they'll get left on the outside!!"
Everyone has different strategies, priorities, tax situations, belief in the company, cash flows etc, etc, etc.... Fundies have different ways and priorities than retail investors etc.

I personally hope we have the same 'issue' again in July 2022.