ALK 6.54% 57.0¢ alkane resources limited

Ann: Trading Halt, page-56

  1. 45 Posts.
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    According to the OTC market site (link below), short interest went from 2880 shares on 9/30/19, to the most recent number of 562,764 shares shorted as of 1/31/2020. While it's a huge % change, I know it doesn't seem like a lot of shares, but when there's only an average of 14,000 shares traded daily, that seems like a lot of the bets have been placed short. I totally disagree with them, I'm long and strong, and think a bit of a panic short covering could be in the works over here on this OTC market but I don't know for sure of course. It just seems like some are paying a lot over the ASX halt price, when no one knows for sure where the price will be when the dust settles after the halt is removed.

    Full disclosure: I bought over here on the OTC yesterday for .75, but that was as high above the equivalent halt price on ASX as I was willing to go. Normally the OTC (ALKEF) trades lockstep with ASX (ALK), and the high OTC price may be an accurate bet that the price after the halt will be $1.35+, and I sure hope it is. Ultimately, I'm just musing about the possible causes of this unusual OTC activity.

    https://www.otcmarkets.com/stock/ALKEF/quote#level-2
 
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Last
57.0¢
Change
0.035(6.54%)
Mkt cap ! $343.9M
Open High Low Value Volume
53.5¢ 57.0¢ 53.0¢ $1.243M 2.231M

Buyers (Bids)

No. Vol. Price($)
1 1869 53.5¢
 

Sellers (Offers)

Price($) Vol. No.
57.0¢ 30258 1
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Last trade - 16.10pm 21/06/2024 (20 minute delay) ?
ALK (ASX) Chart
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