Based on the 17 July announcement shares (excluding options etc) shares on issue are around 70 million. So 0.72% of these shares that are stated to be shorted = roughly 500,000 shares.
If shares traded per day are 2.5 million shares, a per today, then covering 500,000 shares can be a big number (20%) on any given day, though I suspect the positions will be closed out over time. So probably a non-event pe se.
However, surprised that there is any shorting here at all - so the so called recent CR of sophisticated investors wasn't as sophisticated as some assume?
All IMO
SUM Chart, page-1190
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Last
20.0¢ |
Change
-0.015(6.98%) |
Mkt cap ! $14.37M | |||
| Open | High | Low | Value | Volume |
| 20.5¢ | 22.0¢ | 20.0¢ | $524.5K | 2.486M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9070 | 20.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 21.0¢ | 157533 | 5 |
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| Last trade - 16.10pm 23/07/2024 (20 minute delay) ? |
| SUM (ASX) Chart |