You are very confused about shorting.
The shorters borrowed and sold stock they do not own. Hoping to buy back at a lower price, return the stock to the owner, and pocket the $ difference.
If the price rises, they are stuck having to come up with extra money to buy back the stock and return it.
When they buy back the stock, that is " covering"
Sometimes they borrow even more stock and dump it hoping to drive the price down and allow them to then cover all their positions at a lower price. At some point, with really good news, that strategy will fail, spectacularly.
The great Msb short unwind, page-20
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Last
$1.21 |
Change
0.040(3.42%) |
Mkt cap ! $1.381B | |||
| Open | High | Low | Value | Volume |
| $1.17 | $1.22 | $1.17 | $5.683M | 4.776M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 20000 | $1.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.21 | 19746 | 3 |
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| Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
| MSB (ASX) Chart |