I really doubt it's a short squeeze when there's only 1% short interest... Sure some shorts may have closed their positions but that doesn't make it a short squeeze. I think it's mostly due to Suncorp's good result (SUN, IAG and QBE are the largest movers for the large caps today). IAG is a good quality stock and sentiment towards it is changing slowly. I think it will catch up and maybe even outperform SUN and QBE over the coming years
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