Sell-off seems surprising, given that SWF is in that rare...

Sell-off seems surprising, given that SWF is in that rare situation of being a microcap that is cashflow positive, and trading at a reasonable cashflow multiple after backing out net cash. Nearly every shareholder is underwater at 12.5c, so one must think the selling must come to a stop soon.

Also somewhat surprising that investors selling now aren't even bothering to wait until next week, when the on-market share buyback begins. Surely you'd get a better outcome as a seller, selling when a large buyer starts coming into the market to soak up shares?