@pjv Here is my position on the current shorts.
They were opened at .135 when the SP went into distribution mode, the maximum I saw was a little over 50 mill shorted so some has been covered recently. Some financial and banking institutions use them as hedges against long positions and visa-versa.
Obviously many of the larger soph's saw December as a great time to distribute and why not after a fantastic run up from 6 cents. As IMU have no advertised pending announcements due with the IND announcement being delayed it's a great opportunity for the short positions to remain open as I bet they have under .10 cents in mind. It will only be a surprise announcement from management that we're all hoping for that will rock their position.
All that aside, I still regard a less than 1% short position nothing to worry about especially on a stock with such a high SOI. Just a part of doing business when a SP has run so strongly.
Here's a FIB chart demonstrating that there is a lot more scope for retracing, that .61% would be the goal of many.
Just my ramblings.
Cheers.
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Last
5.2¢ |
Change
-0.001(1.89%) |
Mkt cap ! $382.1M |
Open | High | Low | Value | Volume |
5.3¢ | 5.4¢ | 5.2¢ | $216.1K | 4.106M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
31 | 1854997 | 5.2¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.3¢ | 382882 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
31 | 1854997 | 0.052 |
39 | 5099678 | 0.051 |
52 | 4172179 | 0.050 |
17 | 2263068 | 0.049 |
20 | 996329 | 0.048 |
Price($) | Vol. | No. |
---|---|---|
0.053 | 382882 | 4 |
0.054 | 3593651 | 7 |
0.055 | 1701991 | 16 |
0.056 | 2970606 | 12 |
0.057 | 803139 | 8 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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IMU (ASX) Chart |