I think the shorts are in damage control (based on no research). They are just keeping the algorithms going to try to limit the amount of damage they take on the way up. But they are pretty much irrelevant at this point, they have the abilty (and lack of ethics) to drop the share price a few pips on low volume days but they cant stop a full blown trend.
I've read three of the market wizards books and i remember a lot of those guys saying that its not possible to manipulate the market more than slightly, and definitely not long term.
The amount of money they stand to lose probably isn't much in comparison to their total wealth, but if they can mitigate the damage by even 1% then its worth persisting with.
Short Activity in PNV, page-3674
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Last
$2.61 |
Change
0.090(3.57%) |
Mkt cap ! $1.801B | |||
| Open | High | Low | Value | Volume |
| $2.59 | $2.66 | $2.58 | $3.183M | 1.217M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 19229 | $2.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.62 | 3084 | 2 |
View Market Depth
| Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
| PNV (ASX) Chart |