"...the story of the tax selling is just nonsense." I'm not sure...

"...the story of the tax selling is just nonsense."

I'm not sure why. It's something that happens. I did it myself - I sold a million shares to offset against gains elsewhere.

It's only when ftt did the cap raise that I bought back in.

So tax loss selling could be part of what's going on. Then the underwriter appears to have been offloading. That negative pressure then brings out other sellers.

The market as a whole hasn't notice ftt yet. Full enrollment news, trial data, broker updates etc could change that.