Another poor week for the share price. VWAP and closing price...

Another poor week for the share price. VWAP and closing price both tumbling. It's been interesting to watch the CSX volume dropping as well. Rightly or wrongly I've associated trading on that platform with professional market participants. I would imagine as the market cap decreases EXR may appear to be less interesting as a possibility for trading. Having said that I did see the bot pushing the price around at various times through the week so there is still some action there - as unwelcome as it is.

Friday looked like retail dumping. Probably not surprising. I imagine some long term holders must really be questioning their investment decision and cashing out while they're still ahead. If you look at the number (volume was tiny) the drop on Friday could have been caused by only one holder dumping a million shares. It's actually quite hard to dump because there is very little appetite to buy - so quite easy for one person to distort the price.

I keep thinking back to Neil buying on market. It wasn't enough shares to make any material difference to his total holding, so there was no purpose except to display confidence. I'll take some heart from that. We're in a bit of a perfect storm. Selling creates selling (just as buying creates buying). Momentum is moving the price and I still think it is disproportionate to any reality.

We need some strong and sustained news flow and I would have no objection to an offtake. I want to see how the income is going to flow, and sooner rather than later.