Its possible the instos have taken advantage following the NDA submission where they knew there would be a run up in the sp. The instos manipulate the price upwards to a point drawing in new investors to further stimulate the sp and then dump their holdings (We saw this with Milford, except they bought back in almost immediately so they still believe in the stock).
The same scenario happened with Clinuvel where the share price reached $38 in June 2019 and the sp dropped back to ~$25 until October when they received FDA approval for Scenesse. On that day the sp jumped up to the low $40s to fall back to mid $30s at close of trading, and subsequently falling back further over time.
I'm not sure this is the correct term, but I think we've witnessed a pump and dump of a kind.
Its possible the instos have taken advantage following the NDA...
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$16.20 |
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Mkt cap ! $2.117B | |||
| Open | High | Low | Value | Volume |
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| No. | Vol. | Price($) |
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| 2 | 46 | $16.17 |
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| Price($) | Vol. | No. |
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