Well, it took a while. Here is a snapshot of the shorting of ACX, from almost zero, to the most shorted stock on the ASX, and finally back down to 1.77%, after the announcement of the Oracle bid, and the subsequent rise to $7.70. Note the inverted correlation of the sp and the net number of shorts.
Who knows how far the sp would have gone if they hadn't got involved? And who was I to wonder why the lenders risked their shares in the first place- they got their rent, plus received back their shares from the shorters in better shape than when they lent them out. Smart business.
The shorts who kept betting tho, were clearly toast, dropping off a dizzy cliff.
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