Let’s not forget that 31 millions shares were issued in November...

Let’s not forget that 31 millions shares were issued in November 2020 at a price of $1.10. I suspect a fair chunk of these would have been offloaded recently in November - December following 12 months passing and being able to claim CGT discount and would have been up +200%. Many of Those who participated in the cap raise happy to take profit at this level.

Coupled with this we also have also had the sell-off of loss making / high multiple tech.

I also suspect the sudden increase in short positions we saw in November from 0.5% to 3% was likely a larger holder who took place in the Nov 2020 cap raise taking a hedge as they offloaded some of their holding. By placing a short hedge and selling down some of their holding, any reduction in the price could be partially offset.

Just some thoughts on the recent price weakness, likely a confluence of factors.