APX - is being kicked out of the 300 index before trading on...

APX - is being kicked out of the 300 index before trading on March 18th. So all the big end of town shorts potentially will need to be closed before that rebalance. Hence if short covering, makes perfect sense on recent aggressive move. If shorts are covering and new buyers are jumping on board, then naturally price upwards pressure will apply.

Well done to holders that got in recently.

As everyone has commented, interesting how they are put into trading halt by sudden increase, but cap raise May last year, were shorted like crazy (at the time 2nd most shorted ASX Stock) so big end of town had a 30-40% discount for the cap raise at $1.85 to then a pop over 100% to $3.96 (June 5th) within 3 weeks before retail traders even had access to their buy opportunity (June 15th), and by the time they did the price had fallen back 34% from the high allowing institutions (access from May 26th) to lock in their profits, then begin their shorting of APX again weeks after locking in handsome profits.

Gotta lov the markets hey!!! Who says the market are not m a n i p u l a t e d!! Good luck everyone!

Reference - May 16th announcement of 'Appen announces fully underwritten A$60m equity raising'.

Note - Yep, I got caught up during that period, don't hold a grudge though, as the market will do what the market does and we are responsible for our trading decisions. Simply wanted to highlight how one side of the market seems to be favoured over others, BIG end of town always win, so learn their rules and play by their rules!

Happy Trading everyone!

DYOR