I think the instos can only short so much to hedge for positions well north of $10. If everyone is shorting then the entire SP would just crash and burn to no one’s benefit.
And to be honest apart from few instos , majority of the instos and almost entire retails are in the red up till this point. If you look at Citi’s transaction last April - June , they poured as much money to ramp the bloody thing to $20 as they did to short the thing back down to what’s now.
So let’s wait and see ,the market update should be out pretty soon!
Media Updates, page-8759
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Last
$6.85 |
Change
-0.060(0.87%) |
Mkt cap ! $4.952B | |||
| Open | High | Low | Value | Volume |
| $6.83 | $6.87 | $6.78 | $8.532M | 1.250M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2151 | $6.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.85 | 27162 | 5 |
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| Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
| A2M (ASX) Chart |