Spheria increasing their position to >8% of the company. Good news. At least someone thinks this is cheap!
I have hit it hard at $1.10-1.20 as feel has been way oversold now. One of the most shorted stocks on the ASX during the past few months of market duress and news of inflation numbers and interest rate hikes globally. As the shorters search for shares to buy back I think this stock can bounce back very hard and quickly.
I had touched base with a value manager that was shorting this stock several months ago at $2.50-3 and they have now told me they stopped shorting a while back (which I didn’t know) and thinking of going long on it now..
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