RAC - Charts & Price Action, page-11609

@drainer

Yes, Merchant have been day trading for a while and it was even speculated earlier that they could have been capping the SP to prepare for an entry with their Biotech fund (this is yet to happen).

Devil's advocate: if you take ~$1.5M traded in April, with an average of $2.50 SP, this gives you about 600,000 shares traded. Merchant owns 6M shares. This would mean 90% of their shares were untouched in April. So to me it means that they are still long on RAC nonetheless.

But for us retail investors it sucks because we are being scalped left and right. We can never win. This is certainly a driving reason for the lack of buyers at the moment.