Food for thought,
the short sellers have been increasing there short position by roughly couple 100,000 shares a day. When they saw the notice of the sale and the shares dropped they jump in and sold 1.4 million shares on the 28th to help kick it down. On the 29th they again sold 800,000 shares to short the stock again. Right now the short stock number is 18 m shares.
This can lead you to a couple of possibilities.
- They think it may go lower so they can buy bearing in mind that when the shares went close to $6 there was about 14m shares shorting so the short sellers must have been concerned about there potential loss.
- My guess they will start buying as soon as the price levels as this is the perfect opportunity to get their shares back and make money.
If you were a short seller and had to cover 18m shares would you wait or start buying before BOE comes out with news that pushes the price up.
I am holding and will ride the price as the company has a brilliant future, Duncan and his team are great guys and excellent operators. They are not the type to have hidden agendas.
Just my opinion.
Food for thought, the short sellers have been increasing there...
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Last
$4.00 |
Change
-0.070(1.72%) |
Mkt cap ! $1.635B | |||
| Open | High | Low | Value | Volume |
| $4.00 | $4.05 | $3.96 | $12.50M | 3.115M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 7 | 108420 | $4.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.02 | 6543 | 3 |
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| Last trade - 16.10pm 02/07/2024 (20 minute delay) ? |
| BOE (ASX) Chart |