While the MYX SP is perplexing, I'm not convinced shorters are the culprit.
As at 21Feb the outstanding short position was only 1.1% (=17.4M ords).
Compare that to 11%+ 12 mths ago!
At the 30Jan outstanding shorts were 1.27%.
At 21Feb they were 1.10%...so they have declined.
There were 21.6M ords shorted in total between 30Jan-21Feb...and 8 of those trading days were 30%+ days.
20.1M outstanding shorts at 30Jan + 21.6M shorted to 21Feb...yet only 17.4M outstanding shorts at 21Feb.
That seems to suggest there is helluva high rate of churn going on.
Whether that can manipulate the SP lower, I don't know.
Bottom line is, don't bank on short-covering or a short squeeze to have any material effect on lifting the SP.
$2 here we come...., page-809
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Last
$4.71 |
Change
0.070(1.51%) |
Mkt cap ! $400.7M | |||
| Open | High | Low | Value | Volume |
| $4.67 | $4.75 | $4.62 | $953.1K | 203.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1236 | $4.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.72 | 620 | 1 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| MYX (ASX) Chart |