Relative to the very large overall volume yesterday (15M+) it doesn't seem like much (3M). If I recall correctly the gross daily short volume data does not include any offsetting trades either so it is a bit hard to go by.
The short interest data may give a more accurate picture but there is a 5 day lag until we see what happened. To me it seemed more like normal 'long' selling based on the company outlook.
I didn't pick it up clearly from my initial reading of the report, but post analysis seems to put a lot of the blame on supply issues which will impact on sales in the first half of FY25. Comments from DB attributed this to Synlait having issues supplying A2M. It would be useful to know what is causing the latest supply problems at Synlait.
Is it simply a case of supply not being able to keep pace with demand? One would have thought those days are long behind us and demand should be pretty predictable now. The references to needing air freight suggest there is at least a shipping / logistics component to the problem.
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)