I hate talking about shorts the way many like to harp on about...

I hate talking about shorts the way many like to harp on about them. But here's my 2 cents on what's been happening ie. shorts.

Shorts are like gas to the fire, only need a little bit to get things going.

Shorts saw the company overvalued when were near 1B MC, so they sold some down to create a reversal. Simultaneously profit takers and say traders were heavily present, as A LOT of hot money was involved at these prices.

Furthermore, the shorts were able to stoke the fire by keeping an above average amount of selling pressure, creating what would be a normal consolidation into an overextended reversal.

Now: Not sure if shorts are still actively present, price action wreaks of fear and panic selling by holders, thus creating a bigger snowball effect as we saw yesterday.

My view: We can't blame shorters entirely for this decline, yes they played a part, but now it's the combination of:
1. The stock being predominantly retail held. (fear)
2. 12 months has surpassed for many initial buyers so profit taking is normal/expected.
3. Tax time is coming, so anybody late to the party stuck from 40c could be cutting losses to reduce CGT bill.

Have a good day everybody, this is the stock market form your own views and take everything with a grain of salt.