The people short the 17m shares or 6.5% of the free float must be starting to wonder whether their short thesis is correct (because ABC blew up, does that mean that GEM has to blow up?).
Even if their short thesis is correct they must also be wondering when it might occur (it could be years) and what their mark to market loss will be in the mean time (if they keep rolling up at 4x for a couple of years, the stock will likely be a lot higher, particularly given the PE is far from expensive - GXL and DMP are very expensive, GEM isn't).
Also, the technical set up of a 5 month consolidation, then a high volume breakout to a new high and going on with it now is very bullish.
The people short the 17m shares or 6.5% of the free float must...
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 (20min delay)
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Last
$1.16 |
Change
-0.015(1.28%) |
Mkt cap ! $891.1M | |||
| Open | High | Low | Value | Volume |
| $1.17 | $1.17 | $1.16 | $680.7K | 588.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 188454 | $1.15 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.17 | 20488 | 2 |
View Market Depth
| Last trade - 16.11pm 23/06/2025 (20 minute delay) ? |
| GEM (ASX) Chart |