I’m gonna ask what it probably a really dumb / naive question but it’s been bugging me so hopefully you more experienced crew can help:
So we made the top 500 maybe via a strategic push at the last minute and then potentially those instos etc who bought in high 30’s / 40’s to get us there lend the stock back out be shorted.
they make interest from the shorters and then when the shorters eventually cover (in this case via the well publicised...if you’re in the know CR) having made a mint they hand the shares now worth 15c back to the instos...
so what am I missing here? I know some of the funds need to match the index so had to buy anyway but only if we made the 500...so the lenders of the shares now have a stack worth 15c that they paid 40c for and made a bit of interest on??? That doesn’t seem such a great outcome.
i get that they also get to accumulate on the way down and via the raise at much lower entry but is that it?
I must be misunderstanding this process so please enlighten me.
cheers
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Last
0.8¢ |
Change
-0.001(11.1%) |
Mkt cap ! $27.14M |
Open | High | Low | Value | Volume |
0.8¢ | 0.9¢ | 0.8¢ | $51.60K | 6.217M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
48 | 20335090 | 0.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
0.9¢ | 23148180 | 23 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
47 | 19735090 | 0.008 |
35 | 19469158 | 0.007 |
16 | 8436332 | 0.006 |
10 | 8025000 | 0.005 |
1 | 4500000 | 0.004 |
Price($) | Vol. | No. |
---|---|---|
0.009 | 23148180 | 23 |
0.010 | 24454328 | 15 |
0.011 | 16213479 | 8 |
0.012 | 23591434 | 8 |
0.013 | 2351111 | 6 |
Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
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