I think the shorters are selling in a hope of decreasing the share price. I don't know how much of the trading volume is churn but short sales is not insignificant.
I don't understand shorters who sell at the low, I assume it is probably not their money at risk.
eg. MSB went from 4% shorts to 8% after the FDA announcement when the price gapped from $1 to 50c then down to 40c, So the shorts sell price was under 50c. The shorts who did not get cover are now underwater with MSB now at 51.5c. Current MSB 7.4% shorted. So I wouldn't be surprised if total MSB shorts go up in the hope of lowering the price.
The risk to the shorters is high eg. 4DS is up 125% this week on good testing results.
Then you get articles like https://finance.yahoo.com/news/short-sellers-lost-120-billion-173851893.html"Short sellers have lost $120 billion betting against the US stock market that's been powered by the AI boom"
My assumption at present is the shorters waiting for the S&P/ASX indices rebalance in September and the shorters are hoping there won't be a material BRN announcement before then.
Date Close Open High Low Volume daily gross shorts total shorts shorts/volume delta total shorts 1 23 Aug, 2023 $0.315 $0.315 $0.32 $0.31 4214255 326065 7.74% 2 22 Aug, 2023 $0.32 $0.325 $0.33 $0.315 3260160 345015 10.58% 3 21 Aug, 2023 $0.32 $0.33 $0.335 $0.32 4052902 159524 3.94% 4 18 Aug, 2023 $0.335 $0.335 $0.34 $0.33 5140829 79549 141095546 1.55% 127771 5 17 Aug, 2023 $0.335 $0.355 $0.355 $0.33 8944163 1071735 140967775 11.98% 4795011 6 136172764
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Last
21.5¢ |
Change
-0.010(4.44%) |
Mkt cap ! $435.4M | |||
| Open | High | Low | Value | Volume |
| 22.5¢ | 23.0¢ | 21.5¢ | $823.1K | 3.735M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 58 | 2020117 | 21.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 22.0¢ | 140142 | 10 |
View Market Depth
| Last trade - 16.10pm 13/06/2025 (20 minute delay) ? |
| BRN (ASX) Chart |