Yeah you are both right, if there is a legitimate commercial reason than sale prior to 1 July is fine. Buying them back straight after may cause alarm bells, but it's not a sure bet either. Just wanted to point out that these claims of 'tax loss sales' could be a bit overstated. Particularly if there were suggestions that these tax loss sellers would be buying back after a July.
IMO I think the market is a bit fed up with the lack of any 'concrete' progress or announcements, and that is reflected in the current SP. Whether that is right or not is a different story..
Chart, page-5
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