I have seen at least 3 posts in the last couple of days showing outstanding shorts of BRN at circa 25M.
As I have previously stated, it is almost impossible that this number is correct. For anyone that looks at the data regularly, it is not uncommon for the numbers to be wrong,
How can the number of shares shorted drop by ~34M in a day when the total shares traded on the ASX was less than this? And now the info says it will take 3 days to cover 25M shorts.
Think about it people. If someone posts negative info re BRN, people rightly challenge this, sometimes by research. If someone posts positive info re BRN, it seems it’s all back-slapping, high 5s with no questions asked.
At the end of the day, ~3% of stock shorted is stuff all and yes, it will be interesting to see if that number has decreased over the last week, but so what?
97% of BRN shares are held by investors who believe the share price will go up. 3% of BRN shares are held by investors who believe the share price will go down. Why would anyone give more weight to the shorts rather than the longs?
Good Luck LTHs!!
BRN Price at posting:
$1.12 Sentiment: Buy Disclosure: Held
(20min delay)