Post by
Pako007 on Sep 25, 2024 7:07am
When will the SHORT lose control of IAUX?
Up to the time when the new CEO Richard Young came on board, e.g. on 9 September, it only cost the SHORT 123,000 shares to depress the share price at the end of trading or e.g. at the start of trading on 10 September only 155,000 shares.
**Last night the SHORT had to dump 10 times as many shares, namely 1.3 million shares, on the market in the last 10 minutes in order to depress the IAUX price by just 2 cents.**
Since he had to procure these 1.3 million shares intraday, he added 1.3 + 1.3 million = 2.6 million to the daily turnover for this alone. In other words, almost 29 per cent of the day's turnover was spent on pushing the share price down by 2 cents at the end of trading alone!
It looks as if the SHORT is now experiencing more resistance from institutional buyers who continue to absorb IAUX shares on a large scale. They hold (as of mid-September) 2/3 of IAUX shares and have increased their holdings by 43% or 75 million in the first 2 weeks of September.
https://ceo.ca/iau (Caution: @globecruzer and @angelique covertly represent the interests of the short)
https://fintel.io/so/us/iaux