Over the last few days I've seen a handful of comments around TLG shorts and short squeezes. I thought it was tongue-in-cheek but now I feel like somebody should say something. Let me offer some perspective...
The current number of shorts on TLG is inconsequentially small. If there is a stock on the ASX that can be shorted, it's probably being shorted more than TLG right now. It should go without saying that this is not remotely comparable to what happened with GME.
I graphed all shorted stocks on the ASX according to 'Market Index' to illustrate that point. Vertical axis is % of shares shorted. TLG currently 0.01 - 0.03% depending on where you look.
Another way to look at it... Picture a hypothetical situation where every single TLG short, all 110,351 of them, are immediately closed on-market tomorrow morning. If we take this afternoons sell orders + 110k share volume, the price would "squeeze" to $1.58... would not even make it to $1.60.
If this is useful for at least one person then I'll be glad I went to the trouble!.
TLG - Media, page-1393
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Last
55.5¢ |
Change
0.010(1.83%) |
Mkt cap ! $210.7M | |||
| Open | High | Low | Value | Volume |
| 54.0¢ | 56.5¢ | 53.8¢ | $187.9K | 340.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 83393 | 55.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 56.5¢ | 34125 | 3 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| TLG (ASX) Chart |