I hope to correct some misinformation which is thrown around daily regarding short sellers.
Claim: short selling has been driving the price down.
1. Currently there is 7.67% of stock sold short.
2. Early August there was over 15% of the stock sold short.
3. Short sellers have BOUGHT approx. 53,000,000 shares over the last two months.
4. The stock has still fallen over 40%.
5. UBS is not behind the short selling. They are acting on the instruction of hedge fund clients based in the USA and Australia. Research the terms "prime broker" and "stock lending agreement".
THIS IS GOOD OLD FASHIONED SELLING.
short sellers
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Last
$10.20 |
Change
0.350(3.55%) |
Mkt cap ! $3.050B | |||
| Open | High | Low | Value | Volume |
| $9.92 | $10.22 | $9.81 | $27.42M | 2.716M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1004 | $10.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.21 | 9833 | 2 |
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| Last trade - 16.10pm 31/10/2024 (20 minute delay) ? |
| PDN (ASX) Chart |