GG and AC - if this seller is 2m shares "short" what happens at the end of the 2 day settlement time frame when he needs to deliver and is unable to "borrow" the shares elsewhere ?
If in fact this is the situation the seller must be someone with more than 2m shares on hand to utilise a scenario where the stock can be sold down and by doing so he activates nervous holders to sell along the way..........the major seller may well be a major buyer at the same time picking up other holdings at the same time.
All theory - wouldn't take much to move it up a few notches back towards the 60c mark IMO.
GMM Price at posting:
52.5¢ Sentiment: Buy Disclosure: Held