I have been trying to think this through, corrections welcome as I don't do shorts. (Might start if it really is this safe)
This activity is likely to be shorts by the buyers in the capital raise, they are a unique position of safety, as they already know the price they can replace the shorted shares
If I was a SOPH looking for a safe way to generate a return, these would be the steps
Secure shares at 3.5 cents in the Cap raise
Immediately short and sell on market.
Retain the difference between market price received and my 3.5 cent purchase
Repay the shorted shares on the 22nd when they are allocated.
It looks like a risk free return of around 0.5 cents/share
Shorting on 88E, page-17
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Last
0.2¢ |
Change
-0.001(20.0%) |
Mkt cap ! $57.86M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.3¢ | 0.2¢ | $78.15K | 38.57M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 122 | 120098264 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 583908266 | 234 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| 88E (ASX) Chart |