So ... the question for speculators and investors is whether the run from $1.29 at the start of Dec to $1.98 is worth jumping on (or further adding to for existing holders) or whether it is close to running out of steam.
Ignoring company specific matters for a moment, RRL now has two new substantial shareholders - Van Eck and NAB (comprised of a number of sub-associates). That takes up c. 11% of the free float.
As Nordesmic indicated in his excellent report a sizable chunk of shares is also owned by management, further reducing the free float.
Shorts still equate to 11.8% - as I discussed earlier in the 'Latest Short Report' this may have been a miscalculation where shorters erroneously thought significant volumes of shares would become available on the 19th Dec due to the Van Eck rebalancing to allow them to partially / fully cover their positions.
So ... does a significant short squeeze start / continue to drive the SP ahead of the Q4 report (and possible dividend reinstatement announcement) or not? Hmmm.
(Sorry. Don't know how to delete NAB tab from getting linked. Admin - there should be a delete function as I am sure NAB holders will find my comments largely irrelevant to them.)
Cheers
John
NAB Price at posting:
$33.15 Sentiment: None Disclosure: Not Held
RRL Price at posting:
$1.98 Sentiment: None Disclosure: Held
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