a number of regular negative posters and appearance of a few irregular negative posters on the attack!
Why?
IMO
Realisation the window has closed for shorters to “easily” buy back!
Many thought WBT would exit the ASX300 (announced after close on Friday), so now there will be no index sellers in a few weeks, company has plenty of funding given recent capital raise at $3, so no upcoming raise to buy shares - so it will be an “on market” process to exit shorts.
Thus I don’t think there will be an appetite to further short and push price lower. So those hoping to enter cheaper face a moment of reckoning, and shorters have to work out and implement their short (buying shares) exit.
…..Or could run the gauntlet and take on Coby not to deliver any significant material deals!
Any material deal will now be met with minimal resistance from sellers IMO
WBT Price at posting:
$1.94 Sentiment: Buy Disclosure: Held
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