Strategy is called "easy profit". Short sell at 16c, buy back at 14.5c from the rights issue shortfall that instos picked up that will allot next week. 14 million times 1.5c is only a $210k profit though. Is it really worth all that hassle to only make $210k at the end of the day?
If they have already short sold their allocation, that would mean there would be less selling next week once the new 14.5c shares allot as a lot of them have already been short-sold beforehand.
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Change
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Mkt cap ! $288.2M | |||
| Open | High | Low | Value | Volume |
| 2.8¢ | 2.8¢ | 2.7¢ | $194.4K | 7.025M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 68 | 11035460 | 2.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.8¢ | 1676492 | 9 |
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