Definitely some strange shenanigans happening of late with the...

Definitely some strange shenanigans happening of late with the trading in CCX's shares, and resultant collapse in the share price.
For me it just doesn't corelate or compute with where I personally perceive the company to be at in its turnaround journey.
The first big re-rate down (from 50-60c range) following the half-yearly results, was I believe some of the fast opportunistic money flowing out of the stock (by day-traders/hedge funds) who were attracted to the price action & recovery in retail thematic playing out at the beginning of the year. I believe they didn't have the patience to stick around upon realising the turnaround would take a longer with tough consumer backdrop.

Once that money had moved on, it seemed to have stabilised in a new 38-45c range for some months. However someone with a material shareholding has been steadily selling for some time now, which eventually overwhelmed the buy interest & saw capitulation once it broke below 36.5c bottom band around 10 days ago. Whoever it is has not been holding back & trying to get best execution for their shares - they are withholding volume and seem almost deliberate in their desire & intention to push down the share price (clearly trying to take out support levels, rather than drip feed stock in just above those well bid & supported levels).

Interesting thing is declared short positions actually have decreased of late, and last substantial holders were actually increasing (Spheria to near 17%, and Pinnacle to near 8%, as recently as Feb-24). So whoever it is, is either below the 5% substantial threshold, or are both seller & buyer (hoovering up stock in another entity) in which case its probably tax-loss selling motivated). Although the clear attempt to drive down the SP is just too deliberate & relentless, as to be without an agenda.

Damn small caps - big boys can push them around, and play all sorts of games with their financial muscle. In any respect I am quietly optimistic that there is nothing untoward going on. We have a company with no debt, and a number of respectable retail brands & footprint - that of course is operating in a tough consumer market both here & the US - but with management acutely focused on trimming costs & refreshing inventory (after the disastrous strategic errors of two years ago) - our business will eventually emerge from this tough period - a leaner, meaner retailer after a brutal reminder of getting things wrong.

The current market cap of $68M is frankly ridiculous, and I feel in no way an accurate reflection of our company's worth. I think we may well see another big recovery & run up in SP ahead of the August full year results - which are not so far off now. I will not be selling any shares at these ridiculous levels.

Whoever is driving the recent trading activity, clearly has an agenda.