I think it is because there have been so many shorts out for so long that the market makers are unable to borrow more stock in order to lay-off their positions. Yesterday one of the traders on twitter tried to short JBH and got this message.
JBH has been the most shorted stock on the market for some time and the extreme price rise over the last few days must in part be due to covering of these positions. However I understand that complete covering of the outstanding shorts will require about 22 days volume. Therefore I still think that shorting JBH right now is fraught with risk.
short this at your peril., page-4
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Last
$79.22 |
Change
-1.280(1.59%) |
Mkt cap ! $8.661B | |||
| Open | High | Low | Value | Volume |
| $80.10 | $80.60 | $79.09 | $17.11M | 215.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 1762 | $79.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $79.42 | 1436 | 1 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| JBH (ASX) Chart |