ZIP is being deleted from the ASX200 index effective 19th September. Index funds are the natural lenders of ZIP stock to short sellers as they earn borrow fees on the stock lent and have to own the stock regardless of price gyrations & performance.
ZIP currently has a short interest of 67.8 million shares, which is 9.85% of the register or 12.15% of the free float. This is the 5th highest short interest on the ASX.
The potential opportunity here is the anticipation of these index funds recalling the stock which has been lent out to short sellers so they can sell down their ZIP positions next Friday for the rebalance in line with S&PASX 200 benchmarking. If the borrow is recalled, short sellers will be forced into a mad scramble to cover their short positions in order to hand the stock back to index funds who need to sell.
Looks like the stock has found a base in the mid 80s and is now looking to swing.
Lets go!
BORROW RECALL - A short squeeze next week on S&P index rebalance?
Add ZIP (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$1.16 |
Change
0.005(0.43%) |
Mkt cap ! $1.264B | |||
| Open | High | Low | Value | Volume |
| $1.14 | $1.19 | $1.13 | $12.72M | 10.95M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5215 | $1.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.16 | 31770 | 4 |
View Market Depth
| Last trade - 16.10pm 26/04/2024 (20 minute delay) ? |
|
|||||
|
Last
$1.15 |
Change
0.005 ( 1.14 %) |
||||
| Open | High | Low | Volume | ||
| $1.14 | $1.19 | $1.14 | 1743719 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| ZIP (ASX) Chart |