Short positions started climbing hard from start of June (stock: 48c) going from 1% to 9% of the register, so I suspect this has been upsized thanks to demand from short positions to cover into the raise. Retail often bang on about evil shorts etc, but at the very least they provide strong demand for capital raises.
Same thing happened with DYL, if you look at the shortman chart the short positions dropped significantly straight after the big March raise.
I think you'll see the same thing for BOE sooner or later - shorts are anticipating that Boss will run tight on cash (which I think they will given the capex spend on two fronts) so they're all positioning to close into a raise.
LOT Price at posting:
31.5¢ Sentiment: None Disclosure: Not Held
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