The higher the cumulative short positions the more price leverage to push it lower. GXL is being heavily shorted according to short man at the moment. 6.89% at 21st March , early February it was at 10.76% . Where will the share price land. There is a view that $5 will be tested. Let’s see. It’s a market so buying pressure could cause the shorts to loose.
My question always is what is the shorts strategy.
A view on the price forward for a spread profit or forcing another play, take over or breakup ? Look back to the TPG offer. That came after an aggressive short play on GXL.
Probably a really good time to buy and hold.
- Forums
- ASX - By Stock
- Ann: Becoming a substantial holder from MQG
The higher the cumulative short positions the more price...
Featured News
Add GXL (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Alex Hanly, CEO
Alex Hanly
CEO
SPONSORED BY The Market Online