It depends on how they look at it. If they see it as an opportunity to have them exit then it could be perceived as a win.
In terms of smarts, the share price is back at the price the shorts were most comfortable with. That 20% discount from $1.44 sure helped to dampen any interest that may have been accumulating.
I would say that the shorts used the companies debt as a red flag and pointed this out to the ASX who most likely forced the hand of ASM to raise.
Normally, I would not entertain shorts even entering into an exit but in this case, they would know that there is a good chance that some offtakes are on the cards, which would be a strong driver of the share price.
It is all hypothetical and could be proven wrong tomorrow with one announcement. Until then we await.
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 (20min delay)
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Last
72.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $145.6M | |||
| Open | High | Low | Value | Volume |
| 0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1388 | 72.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 72.0¢ | 12801 | 1 |
View Market Depth
| Last trade - 07.35am 25/07/2025 (20 minute delay) ? |
| ASM (ASX) Chart |
Day chart unavailable