Having a sook to ASIC because the price fell haha - live by the sword die by the sword, this is investing in small caps.
The share price didn't fall due to manipulation, it fell because it was pricing in growth and positive cashflow trajectory and the FY25 outlook insinuated that growth is no longer tracking and therefore the business is heading towards negative cashflow again.
So you have: 1) Growth slowing and perhaps contracting 2) Negative cashflow - market punishes you for even thinking that you'll eat into your cash balance 3) Reducing cash balance - means that market participants opens to the idea that a dilutive capital raise is a possibility within the next 18-24 months
That's the reality, if you're someone who manages capital for someone else - there is no way you'd continue to hold APX and rather you'd try to exit ASAP - which is what we saw during those few days.
You exit as fast as you can when the thesis breaks down.
No one was manipulating or orchestrating anything - a mediocre result meant that everyone with half a brain headed to the door at the same time!
APX Price at posting:
$1.25 Sentiment: None Disclosure: Held
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