It's all speculation, but I'm saying the "shorters" are probably the institutional investors that have already been allocated shares in the cap raise. So Sprott might be doing that. Sprott could be borrowing from State Street, sell on market at ~10c, then once Sprott gets their cap raise shares at 7.5c they can just give those shares back to State to cover the short. No buying on market necessary, no short squeeze.
PEN Short Squeeze, page-5
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Last
10.5¢ |
Change
0.005(5.00%) |
Mkt cap ! $334.3M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 10.5¢ | 10.0¢ | $1.047M | 10.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 70 | 9842754 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 4002799 | 32 |
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| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| PEN (ASX) Chart |