Why should there always be a conspiracy? Not that I don't like a good conspiracy story. But it's likely to be as simple as someone deciding to take some or all of their profits off the table because they can't wait for the POS story to play out, while someone else is steadily accumulating, confident that nickel will do well next year, that POS is well-situated to benefit from the rising demand for battery nickel and that two big shareholders are likely to fight for control and thereby boost the SP.
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