There was no manipulation with this stock yesterday. To me, it's...

There was no manipulation with this stock yesterday. To me, it's clear that the run up was traders jumping onto some momentum that was created by a few cobalt plays moving on Co hitting record highs. Plus there were a few articles about large multinationals circling Aussie Co plays. So the traders jump in knowing that there'll be some action, which makes CLA appear of the radar of other traders and that's how the momentum is built. Easy money for them especially if it's a concerted 'attack' (for lack of a better word).

The reason it fell back to 11.5 and the reason why I think it may fall back to 10c this week is that most of the buying was ST traders. They either took a handsome profit or walked away flat as the T+2 rolled around. The fact that it rose and fell so fast is testament to the fact that there was no new money entering the stock - and I mean new significant money.

IMO for this to really take off, it needs a legit rerate catalyst which will bring in new investors - not day traders. Investors that won't pip trade this for 1-2 days. When big money buys and holds, I think we'll all notice when it happens.

But for now, I wouldn't be surprised if it falls back to 10/10.5 where the resistance will hopefully become the new support. The US markets last night certainly don't help the cause.

All IMO so I thought I'd just call out that claims of manipulation are unfounded and very typical whenever a stock rises and falls so dramatically.