A start up in a sexy field with some runs on the board, a Board...

A start up in a sexy field with some runs on the board, a Board willing to pump the price hard for a CR that came too soon and then the announcement leaks and insiders cash out. Large number of skittish inexperienced punters on the register. The manipulator trader types will be drawn to this like flies to raw meat. A recipe for volatility. Don't expect any rationality in the SP over the coming weeks and months - it will be hostage to the traders!

The added problem for those still holding shares bought during the price pumping, is the general loss of confidence in the company to be able to get its CR's right (it will need to tap the market agins for sure before money starts coming in). I remember MSB tanked from $3.45 to $1.45 after stuffing up a US listing and CR - it is still $1.35 two years on. What happens when CPH next need cash? They will need real runs on the board before then, to avoid major discounts and dilution. However, good news as the cash runs low will be interpreted as another CR on the way - time to bale before the dilution! I won't be trying to catch this falling knife just at the moment!

The insider action did stink and that did trigger and exacerbate the sell off which has hurt many. ASIC should look into it - but they won't.