I have evidence that this is not the case.
Here is the accumulation of shares by 4 retail brokers combined - CommSec, AIEX, CMC Markets, and Wealthhub. As you can see, retail investor holdings are increasing.
Below is more granular broker data for the past month.
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 (20min delay)
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Last
$2.13 |
Change
0.120(5.97%) |
Mkt cap ! $684.4M | |||
| Open | High | Low | Value | Volume |
| $2.09 | $2.16 | $2.04 | $4.243M | 2.013M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2553 | $2.12 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.14 | 4455 | 3 |
View Market Depth
| Last trade - 16.20pm 24/06/2025 (20 minute delay) ? |
| CU6 (ASX) Chart |