It is difficult to see any reason why sp has been going down in NY. One indicator is sometimes number of shorted shares but number of shorts has been very low during the past weeks. On 31st of Oct the number was only 8519, lower than almost ever ( down 27%). However during the past months this number has been fluctuating, sometimes up and sometimes down. So there may bee somebody how has started to play with possibility to short in NY . SP fluctuation in Australia is clearly less strong than in NY. With a very small volume a single person can control sp by shorting, I think. Typically in the end of a trading day there is one small deal taking sp down.
I am not at all an expert in shorting but fluctuation differences between Australia ( no shorting) and USA ( shorting possible) makes me think that shorting could be one reason.
I do not think there is any problem with phase 1 study explaining sp going down. There are so many different reasons to sp fluctuation but of course it would be nicer to see positive trend when there is gradually possibilities to get phase 2 study started. I do hope we get some news in the Annual meeting in spite usually we do not get any.
PBT Price at posting:
4.3¢ Sentiment: None Disclosure: Held
