Down again. Not often you see a so called public company where the shares are set up in such a way that no retail shareholders have any control over their shares and they are used as a giant slush pot of shares for institutional algo traders running massive shorting operations with 20 to 100% of the equity shorted on any SINGLE day despite virtually no stock being available by retail for loan.
It's fascinating how management and the algo traders/shorters interests are aligned: They are the only ones pulling cash out of it and Oren keeps on trying to convince retail to take the opposite side of the trade: Retail must keep putting in whilst everyone else is taking out.
No public company can build a business, raise capital cost effectively or remain listed the way Mobilicom is configured on the Nasdaq imo. But these guys are the experts so I presume it is set up this way for a reason.
I was confounded as to why they would not domicile in the US and list ordinary shares, but when you watch what is going on with the stock, shorting, placements etc in the US it seems that there is so much money being made by finance schemes and HFT with this ADR system that it's not really worth trying to capitalize the company properly. Maybe I am wrong, but that's the way it looks to me: It's feels like a story merely to have a listed instrument to manipulate.
MOB Price at posting:
1.0¢ Sentiment: Sell Disclosure: Held
