180 million shares have been loaned out since ~23 Dec when the SP was struggling in the low $1.20s. Those borrowed shares were sold at prices ranging from low $1.20s to $1.67 on 30 Jan. Plucking an average for calculation say $1.35.
Borrowed shares must be returned, 180m is a lot to buy back, usually 10-12 normal volume trading days. Or 6 times mega-Friday.
But SP has jumped, almost certainly Friday's close greater than the selling price of the bulk of 180m shorted shares. Time to exit the short. US market had a great day and I wouldn't be surprised that $1.75 would be a median SP next week. Not investment advice, I'm just reading the leaves in the pot!
Sold at the estimated average of $1.35 then pressured to buy back at $1.75 is a loss of $0.40/share with 180m needed to be bought back is a $72m black hole.
More like brown hole. Enjoy.
LTR: Short squeeze coming for shorters - 2nd highest likelihood in all ASX, page-976
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Last
61.0¢ |
Change
-0.010(1.61%) |
Mkt cap ! $1.479B | |||
| Open | High | Low | Value | Volume |
| 61.5¢ | 62.5¢ | 59.5¢ | $5.924M | 9.789M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 841 | 60.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 61.0¢ | 237774 | 5 |
View Market Depth
| Last trade - 16.10pm 10/09/2024 (20 minute delay) ? |
| LTR (ASX) Chart |