Fibs falling like dominoes. 4 months in and still no guidance from management which in itself is a red flag given stabilizing consensus. Smells like a lemon.
Shorts rising exponentially likely means insiders probably know the reason there is no guidance is because there is nothing but bad news coming. No way shorts would be rising this fast if there was a risk of any positive news.
Shorts higher now than at any point since the capital raising. So the 'game' again is to keep pushing this down as hard as possible with little price discovery as we have seen recently until OPM shares can be crossed at the lows. Again, we are now looking for crosses of 50 odd million to see a bottom, but given this is the second phase of decline, and management seem out of their depth with forecasting....maybe the shorts will never cover and they are planning on holding this until the company goes into admin or raised another billion at 10c?
Question is is whether it is worth the risk trading in the mean time with the increasing likelihood of another nasty surprise or will it be put into a multi-month suspension until the market is 'fully informed' by which time it could open 50% lower?
ARI Price at posting:
22.5¢ Sentiment: None Disclosure: Held
