Hi Sharequeen Thank you for your posts. I do not think retail are selling at this time, on every holdings report I have seen retail have increased their percentage holdings. I think the entity that has shorted ASM has at least two motives - make money out of shorting ASM shares and accumulate a large parcel of shares at a cheap price. They borrow shares, dump the shares into the market to force the share price down. Continually buying and selling through high frequency trading to control the share price.
I believe they are happy to buy the shares they have borrowed at a cheaper price to immediately realise a paper profit and a nice parcel of ASM shares.
The short sold percentage is been held just below 7 million shares. I thought it would get closer to 10% coming up to the index rebalance on third week in a March. I believe they are also using the shares they own, selling into the market and keeping the price down, to hide their market manipulating tactics.
I expect an increase in down ramping posts leading up to the index rebalance as they try to scare retail into selling cheap to increase their profits. At some time after the rebalance they will try to cover their short held positions, but as evidenced from other stocks they can hold their short sold positions for a long time.
I am eagerly waiting on Dubbo funding and KSMboff take agreements to see the impact on the share price and the short selling antics.
ASM is a long term wealth maker for me.
ASM Price at posting:
$1.62 Sentiment: Buy Disclosure: Held
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