CVN 0.00% 19.0¢ carnarvon energy limited

Yep, I'd say so. Which suggests the shorter is probably just...

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    Yep, I'd say so. Which suggests the shorter is probably just trying to short the stock to drive the price down for a short profit.

    To be honest, that's the simplest explanation and IMO usually the correct one in nearly all short attacks, much as optimistic holders on HC continually dream it's due to manipulating down for a takeover. When these hedge funds coordinate an orchestrated short attack on a stock, it's because they think there are skeletons in the closet, as happened with RFG, Quintis etc. The short action here is nothing like on that scale so I suspect it's just a fund taking a contrarian bet that the flow test will disappoint the market. Which I am fine with, there's nothing dodgy about that. They could well be right - even if the Caley flow test is brilliant, there could still be too many traders punting on a quick SP jump, who all try and 'sell the fact' and the price drops. I have used that strategy myself to reasonably good effect previously, though with covered shorts.
 
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Last trade - 16.10pm 29/03/2024 (20 minute delay) ?
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