Good morning IW. I hear your passion and angst and concern of you and others here and do not disagree. A quick look at the top 650 ASX companies finds STX ranking 3rd in highest cover days. For a company with a tangible asset base and position in the potential long term lucrative PB this is an anomaly in itself. Like many things one size rarely fits all and the same with short selling. What I am seeing is three types of short position holders on your books. There are four actually if we include quasi CFDs but for purpose of STX I will use the traditional definition. For STX there is a mix of intraday and pure speculative and arbitrage short sellers. In breaking these down an intraday short seller will aim to close out each and every night so as not to be exposed to the risk of a sudden announcement. It is also rare that they would be caught holding an open position over a weekend or holiday period because the diluting effect of daily fees and charges. The speculative short seller meanwhile is more likely to take a position and sit back and wait and rely on the laws of games of chance. Then we have the arbitrage short sellers who seek to buy and sell securities in different markets to take advantage of price discrepancies. They are the ones I am most wary of because the reverse side of the equation is not always clear. The net affect is that the risk of a short squeeze differs dependent on the method of approach such that speculative and retail quasi CFD holders are arguably most at risk of being squeezed. I do however also believe that your BOD could arguably do more in the interest of your shareholder value in publicly addressing this divisive issue. For you guys and the greater good of WA and energy supply sector competition I wish you all success. Enjoy you day and one day soon hopefully a share of the full benefits that STX deserves. My opinion only of course!
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18.0¢ |
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Open | High | Low | Value | Volume |
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No. | Vol. | Price($) |
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21 | 1522008 | 17.5¢ |
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Price($) | Vol. | No. |
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41 | 2858570 | 0.170 |
30 | 2624923 | 0.165 |
35 | 1090735 | 0.160 |
11 | 607750 | 0.155 |
Price($) | Vol. | No. |
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0.180 | 763849 | 6 |
0.185 | 815887 | 7 |
0.190 | 1014538 | 13 |
0.195 | 1239810 | 7 |
0.200 | 1556409 | 18 |
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