i'd say waiting on significant news, like HREC, that will open the taps up, and take out lines.
You have money, that waits for certain de-risk events to time its entry.
While the rest of us, position early, and it doesnt matter the exact month trials start, we presume that a month here or there in the scheme of things means nothing, as our position in assumptive that risk on we are willing to accept it will occur.
But for others, they look cup half full, half empty in the balance until a de-risk event occurs.
HREC, sites, trials start, first results, etc, they are all events, to which the deep pockets, appreciate the subsequent momentum of money will be flowing to price even higher.
Conservative money, likes lower risk, but pays a higher price for it.
Meanwhile, left field announcements on further commercial opportunities, can move the bar higher, and ignite FOMO.
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