A rough estimate of short covering from start of recent large covering. Based on Commsec site. From 27/10/20 to 12/11/20 there has been around 35m trades. From Shortman shorts have decline about 8m shares over similar period. So shorts accounted for approx 25% of all on market trades. Over same period SP moved from 24c to 28c. That's assuming they are not also selling from time to time. A lot of moving parts but it's clear shorters are seriously in the market but modest short covering volumes have moved the SP 17%. Will be interested in seeing how shorts covering volumes were post 12/11/20 when SP declined to current levels around 26c. They may well have backed off to flush out impatience holders and STchurners. Remember there are still 50m shorts to be covered.
Possible New Run Starting, page-353
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Last
16.0¢ |
Change
0.005(3.23%) |
Mkt cap ! $286.2M | |||
| Open | High | Low | Value | Volume |
| 16.0¢ | 16.0¢ | 15.5¢ | $17.62K | 110.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 1478008 | 15.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 16.0¢ | 48992 | 4 |
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| Last trade - 16.10pm 05/11/2024 (20 minute delay) ? |
| CVN (ASX) Chart |