That cut in in short positions occured significantly from May 26th to June 4th, surprise surprise 6th June IEL comes out with a market downgrade.
Coincidence NOT in my opinion.
But even after this shorts still holding around 12.5%
And this on an 'A-grade' business model company.
IEL is priced for growth. If growth goes backwards, (even in the short term, say 1-2 years), market will really punish the stock as its supposed to be a growth stock. A growth stock with declining earnings really tests the market's faith and belief in the justification for the overpriced stock.
FY 24 earnings droping below FY23 (remember FY24 earnings market anticipation was for higher than FY23 and for FY25 no improvement), with a high PE, thanks but no thanks.
Happily on the sidelines.
Watching..... but no way am I interested yet.
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Last
$13.76 |
Change
0.290(2.15%) |
Mkt cap ! $3.829B |
Open | High | Low | Value | Volume |
$13.54 | $13.88 | $13.53 | $19.99M | 1.442M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 3807 | $13.76 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$13.87 | 70 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1000 | 13.720 |
1 | 700 | 13.650 |
1 | 367 | 13.600 |
1 | 736 | 13.580 |
1 | 100 | 13.480 |
Price($) | Vol. | No. |
---|---|---|
13.890 | 1049 | 1 |
13.910 | 719 | 2 |
13.950 | 600 | 1 |
13.970 | 357 | 1 |
13.980 | 500 | 1 |
Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
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