RE: Shorts running out of time11 Oct 2022 10:43
"Now the excuse is keep silent so the long term holders can argue amongst themselves and come up with rumours why the share price is getting hammered! (Desperate stuff)"
I don't think its shorters that is causing the fall because they would have to have a lot of fire power to continually take out an increasingly risky position over the last weeks and maybe months.
To short now from 100p or so, would have to mean they know the trial is failing and they don't , and every factual indication is that it is succeeding.
Looking back at the chart since april,there have been 2 short lived spikes to around 140p with a more consistent top of around the high 120's
So really we are looking at an approx 20% trading range which on a stock like this in the current macro market environment, seems to me reasonable and not showing any undue need to look into this further.
Previous to the last update there was a legitimate argument to perhaps think that further funding was an imminent likely issue but that has been pushed back beyond trial results so that is (imo) unlikely now as a driver to falls.
My take would be that there are some very strong headwinds to the market now such as turmoil in the bond market, a govt that is also in turmoil with an unclear direction presently, the Ukrain/Russia war potentially escalating the West's involvement , high inflation, rising interest rates and potential Pension problems.
As a result it would be prudent for some to take some money out of the market now to buy back in if just any of the problems affect the market particularly adversely.
Whether or not the SP will fall further I have no idea, but I don't subscribe to shorters or MM.