I put up a theory in the past. And my theory is that these shorts could well be done on behalf of a big pharma who probably already have the intention to launch a takeover. If that is true and it happens, then these shorts won't mean anything as they will own the company. And therefore, the main work of these shorts is just to keep a lid on price so that the big pharma can make a lower offer.
In fact, it would be interesting to see if these shorts get covered when the share price rise a bit further. If not, then my theory would be more right than wrong. After all, with results like today, who would really dare continue to short this? Just does not make any sense.
Only time will tell.
IMUGENE CHART. TA only, page-32
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Last
4.6¢ |
Change
0.002(4.55%) |
Mkt cap ! $342.1M | |||
| Open | High | Low | Value | Volume |
| 4.7¢ | 4.9¢ | 4.5¢ | $713.9K | 15.11M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 1606877 | 4.6¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 4.7¢ | 2034812 | 13 |
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| Last trade - 10.49am 05/11/2024 (20 minute delay) ? |
| IMU (ASX) Chart |