"Well this is pretty grim news. More shorting in the way."
Although the fact that CS is borrowing the stock normally means that they want to make money from the stock by shorting it, but there is no evidence of this happening yet. This is because in order to short a stock, there must be buyer of the short whom are bullish about the stock. At current share price and the lack of volume, even if CS wants to sell short the stock, they will struggle to find large buyers. Thus, maybe this is what @mpr505 was alluding to, yes, CS will likely short the stock but maybe at the next big hype, when there are bullish buyers.
Furthermore, if you check shortman website (https://www.shortman.com.au/stock?q=ttt). currently there are only 0.36% of total stock shorted, and it has barely moved since early March 2020.
"The worst part is that it is really only insiders who have shareholding’s large enough to lend at these volumes"
If you read both announcements from today and previously carefully, the stocks are being borrowed from CGS-CIMBS, whom has ~12.4million stocks they bought from Sept 2019 - March 2020 (price paid from $0.5-1.00). They are not some insiders as you said. CGS-CIMBS is an investment company based in Singapore.
As to what the heck is CS is doing with the 6% shares holding is not clear yet. Are they waiting for an opportunity to pump then dump (short sell?) or are they planning a more sinister scheme with their new voting power at the AGM? What is clear is that they haven't done anything with the borrowed shares yet!!!
And now I am going to put a positive spin on it as requested by you, All major/big/ASX300/ASX200 stocks are being manipulated by bots and algorithms. If they survive the attack, eventually they will end up being a big company. The fact that CS thinks that TTT is worth manipulating gives me hope that we have the potential to become a big boy one day. Finally, a very beloved investor on HC once said: shorters eventually will become buyers of the stock; if they are in the money (ITM) then it will create a new support, and if they are OTM then they push the SP up further (oh and holders love posting photo of a burning short, worth the giggle)
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Last
26.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $396.6M |
Open | High | Low | Value | Volume |
25.5¢ | 26.5¢ | 25.0¢ | $882.8K | 3.426M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20234 | 26.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
27.0¢ | 145001 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 20234 | 0.260 |
11 | 97792 | 0.255 |
8 | 135805 | 0.250 |
6 | 48889 | 0.245 |
12 | 178802 | 0.240 |
Price($) | Vol. | No. |
---|---|---|
0.270 | 145001 | 3 |
0.275 | 311167 | 4 |
0.280 | 188951 | 4 |
0.285 | 25001 | 2 |
0.290 | 27213 | 3 |
Last trade - 16.10pm 07/08/2025 (20 minute delay) ? |
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TTT (ASX) Chart |