MRM moving up to 5th position in the most heavily shorted stocks on the ASX and HFT manipulation algos are hammering it hard when any weakness is shown. Insiders seem to know an imminent collapse is a 'sure thing'.
There will always be green days, but the algos take advantage of any sellers or weak market days to leverage the downside. ASIC really ought to look into the manipulative one-sided HFT algos on this stock but I can guarantee the will not see any 'systemic risk'.
Also, given so many contractors staff seem to be shareholders here and actively trading stock as per Shipmaster with access to varying degrees of exposure to how the business is travelling, the ongoing high level of shorting activity is a real concern for the mug shareholders who have to rely on ASX announcements that only have to be released once decisions and data are formalized and signed off.
Yet shareholders are still supposed to believe current earnings guidance and no change to dividend plan or mention of write-downs. Sure is going to be interesting to see how management couch the wording of any upcoming bombshell announcement. Given the 90 odd percent decline, and the lack of any significant value being accorded to the business, surely any negative news bombshell announcement would be accompanied by the resignation of the board? Surely their positions would be untenable?
8 consecutive days of extremely aberrant shorting activity and an increase in stock lend is a huge red flag here fir unsuspecting shareholders.
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