I wrote on the 5/1 -
"A shakeout is possible to get the shorters out and then from the 20th Jan onwards we may see the short term money return for the decision on the 30th.
If this does shake out then definately worth adding to. IMO
A nicely timed news article saying doubt has surfaced about
the approval (leaked or misquoted by ???) will be just the ticket for the shorters to exit and the shakeout will begin."
With the stock price now near a $1 it seems the nicely timed news article has arrived - maybe not quite as I expected (ie about the approval) but enough to put doubt out there to further shake loose the weak hands. The shorts have orchestrated this perfectly and this will allow them to get out, or even get net long. I maybe a tad cynical, but the shorting of this stock seems so contrived that how can one not be?
The next few days will be the best entry point. I would not be surprised to see a positive article/report appear once the shorters are out or are net long again. This will probably happen in about 7-10 days time.
IMO the company has absolutely zero plans for a raising.
The Anwer aquittal could also be seen as positive.
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Last
$6.80 |
Change
-0.100(1.45%) |
Mkt cap ! $6.356B |
Open | High | Low | Value | Volume |
$6.78 | $6.80 | $6.69 | $13.60M | 2.014M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 13933 | $6.78 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$6.80 | 1389 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 5667 | 6.780 |
2 | 6500 | 6.750 |
1 | 3000 | 6.730 |
2 | 3200 | 6.720 |
2 | 4480 | 6.700 |
Price($) | Vol. | No. |
---|---|---|
6.800 | 200 | 1 |
6.820 | 383 | 1 |
6.880 | 5000 | 1 |
6.890 | 1550 | 1 |
6.900 | 23748 | 7 |
Last trade - 16.10pm 23/08/2024 (20 minute delay) ? |
LYC (ASX) Chart |
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