did they over pay for Bengalla ?, page-12

Macquarie came out with a downgrade recently with a target of $1.10 and that's when it started tanking. The volume is relatively low so I suspect it could easily recover the loss. There is very little free float as about 90% of shares are owned by about 4 shareholders, so the % outstanding shorts is very low. However recently 30 to 50% of daily trades are often being made by shorts, so they are trying to push it down. I would have thought this is risky for such an illiquid share. I presume they are gaming the New Acland permit outcome which looks like it could go either way.
If a respected company like NHC gets blocked by activists then we can say goodbye to a lot of real jobs.
Presumably the activists have already made their money, so don't care about jobs, or they're on the dole and think we'd all be happy to join them there.
I'm all in for $1.99 so is painful enough and don't feel like buying any more. Energy stocks are really out of favour at the moment, which should signal a bottom, but we will only know with hindsight.