AJ, I shorted this stock from over $9, so I smelt blood a long time ago.
However there is a clear appetite for these assets, so even though the market is depressed i.e. the oil price etc, competition will be fierce to secure any long term assets. Sure they wont get the price they would have a year ago, but that's what it is, but they will get an ok price as they have very good assets & if they didn't have debt there wouldn't be an issue.
Its now being over played & to short now you will be looking over your shoulder each day to see what announcement will be made. I would say there is a about a 20-25% chance of a CR.
I like those odds of 75% or so there wont be. That's just my view.
I know as I have shorted this stock on multiple occasions & in the last month or two I was very wary of being short at much under $5. In fact I was quite nervous.
And that's how I would be feeling right now knowing there are 100M shares to cover if the announcement isn't the one I was hoping for.
AJ, I shorted this stock from over $9, so I smelt blood a long...
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Last
$7.55 |
Change
0.070(0.94%) |
Mkt cap ! $24.52B | |||
| Open | High | Low | Value | Volume |
| $7.52 | $7.55 | $7.45 | $49.37M | 6.568M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 109504 | $7.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.55 | 11885 | 3 |
View Market Depth
| Last trade - 16.10pm 07/05/2024 (20 minute delay) ? |
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Last
$7.54 |
Change
0.070 ( 1.08 %) |
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| Open | High | Low | Volume | ||
| $7.52 | $7.55 | $7.45 | 1464580 | ||
| Last updated 15.59pm 07/05/2024 ? | |||||
| STO (ASX) Chart |