Last Monday (20 June), the QPM share price fell below $0.10 to...

Last Monday (20 June), the QPM share price fell below $0.10 to an intraday low of $0.099, before closing at $0.10. Data now shows that there was a net total of 3.7m shares of new short positions opened on the stock on that day.

The share price remained at $0.10 on Tuesday and Wednesday, on relatively light volumes traded. On Thursday, the share price broke below $0.10 again to an intraday low of $0.092, with a large spike in volume traded. My guess is this was due to short selling again, with short sellers trying to instil panic in holders and cause them to sell. On Friday, the share price recovered to $0.10 on modest volume.

My takeaways are:

1. Primary driver of share price falling below $0.10 appears to have been short selling (per short selling data for last Monday, and to be confirmed by short selling data for last Thursday when it is available)

2. True selling (ie. liquidation of long positions) seems to have dried up (per light volumes traded and apparent lack of selling pressure when short sellers have not been active last Tuesday and Wednesday)

3. Interest from buyers appears to be fairly robust below $0.10 (per quick recovery to $0.10 last Friday)

All IMO and GLTAH.