I wouldn’t interpret this data too simplistically. Sure, today it might look like retail investors were the smart ones. But what if tomorrow the price drops to 8c for whatever reason — a dip in gold prices, issues with transitioning to production, or cash concerns?Would that suddenly make the professional investors the smart ones because they managed to distribute their shares to retail at a higher price? Probably not.
I view this data more as a sentiment indicator. Professional investors aren’t "smart" in every moment, but over time, their behavior tends to reflect better decisions in certain market environments. As
@gdavs mentioned, they also tend to act differently and more strategically.
What I see here is a lack of strong buying sentiment from professional investors. Yes, they’re selling, but not in a rush — more of a gradual distribution, likely from shares acquired during capital raise rounds. They’re letting the price rise and selling into that strength.
At the same time, other professional investors aren’t rushing to buy either - maybe they’re waiting for better opportunities.
That’s just my interpretation. Others may see it differently, but I think this adds an extra layer to understanding the sentiment of different market participants.
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