It means they played the game perfectly. Look at how quickly shares for shorting were mustered up. Until then, no shorts had been reported.
And while many shorters covered, there is still 8% of the total issue shorted.
I'm actually surprised this isn't higher if there is a genuine feeling that the company is heading into VA. But I guess solid gains already made. Profits locked in.
If it can survive, and management can plan there way through this mess, then still a relatively large number of shorts need to cover.
Has anyone checked to see if the latest EOFY prospectus can still be taken up?
Timing of all this couldn't have been worse, which makes it all the more suspicious RE takeover bids and opportunistic actions.
Milesy
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