I don't wish to get into a discussion on the matter.
in what way does a short seller mitigate the damage?
To answer your question, look at the example of HKD provided by @westsurf. HKD IPO'd at $7.80 (from the prospectus), now trading at $1679.00, and given past experience of this Chinese broker, the company is likely worth $0.00.
The float has been locked by the broker. To short sell HKD intraday, the borrow costs $113/share. To hold the short overnight costs x4 to x7 of $113/share depending on the broker. At this rate, it is uneconomic for short sellers to short, so the price gets manipulated up to $1679.00 in the absence of short sellers. Anyone that bought on the way up and doesn't sell, they'll get crushed, scammed, fleeced. If this market mechanism is unfamiliar, I can't help you.
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Last
$2.58 |
Change
0.020(0.78%) |
Mkt cap ! $1.780B |
Open | High | Low | Value | Volume |
$2.61 | $2.63 | $2.56 | $2.465M | 952.5K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 10700 | $2.57 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.58 | 24502 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 10700 | 2.570 |
2 | 3356 | 2.560 |
6 | 28190 | 2.550 |
6 | 28516 | 2.540 |
5 | 14962 | 2.530 |
Price($) | Vol. | No. |
---|---|---|
2.580 | 24502 | 5 |
2.590 | 2701 | 2 |
2.600 | 17397 | 5 |
2.610 | 11981 | 2 |
2.620 | 2201 | 1 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
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PNV (ASX) Chart |