The heavy selling down to10c was not shorts covering.
When a short covers, they need to rebuy the share and return it to the original owner- who loaned it out for a fee. So it actually means buying has occurred- not selling. This probably coincided with rise from 10c to about 15c… possibly saw the ‘golden cross’ about to happen.
A lot of the time Instos will also short a small amount to cover the chance the stock falls.
The drop in shorts from June 24th to July 18 was huge.
The heavy selling down to10c was not shorts covering.When a...
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