I totally get your sentiment TP and share in your curiosity.
Currently CU6 is the 29th most shorted stock (by % of SOI) across the 2000 plus stocks on the ASX. Confusing for me is the timing of when these positions were opened. I’ve posted before re the shenanigans played once stocks make it into ASX200 and short positions were opened. But not at the rate expected when the SP reversed into a strong downtrend. In fact the bulk of these positions weren’t opened until the stock fell to the $3 level. So what did they know then to all of a sudden more than double the short overall position? Has me asking, “is the current positive move a bull-trap.”
I get why you call it nonsense, but unfortunately 6% is a serious position in a struggling sector.
Not wanting to be negative.
Cheers.
CU6 Price at posting:
$2.29 Sentiment: None Disclosure: Not Held
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