TP, I really don’t know who’s behind it. Your guess is as good...

TP, I really don’t know who’s behind it. Your guess is as good as mine. Could be one group, could be more. There’s certainly more than one shark swimming in this pool.

Firstly, we have the funds who are forced to hold NEU because it’s in the ASX200 who are more than happy to make fees by lending out their stock.

Then there’s the shorting funds who obviously benefit when the share price is driven down, not when it goes up.

There may also be some funds who are actually keen to build a stake in NEU but want in at the lowest possible price and certainly don’t want to drive up the price when they buy in.

In addition, there’s the possibility of a potential acquirer who is driving the price to build a stake if a hostile takeover is being considered.

Finally, there’s the possibility that a potential acquirer is hammering down the market cap prior to a “friendly” offer.

Take your pick…