"Current shorts are around 1.5 million sharesa day and rising..."
I think not per day..
The current total short position as of the latest data, which is from four days ago, is 1.52% or circa 1.6 million shares. The short sales yesterday, 1 Apr, were 0.04% or 44,884 shares and that doesn't allow for any short covering sales that may have occurred. The recent uptick in short interest since 20 Mar equates to about 48,000 shares per day.
So in short, the current short interest in PME is nothing special. They rank about 58th most-shorted in the ASX100 and about the same on a days-to-cover basis. There are ASX100 stocks with vastly bigger short bet against them.
I take notice of the short interest because short sellers are generally smarter than the average bear.
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