shorts’ had bet that in current stage AVH’s business is not sustainable and AVH would require a CR - it turned out they were right ...AVH had CR and now short are closing their positions with newly issued shares - that’s why there’s no short squeeze.
there was a day of frantic buying by shorts on the market on 5 March that resulted in a price spike... but after that given all the negativity around AVH there were only short buying it back on-market... with $3.5m shares CR purchased off-market on Friday last week (19 March)
i do think if longs were a little organised they could have orchestrated a short squeeze - CR happened in the US and it took a few days for shorts in AU to get their hands on CR shares - this was a prime opportunity for shorts squeeze
AVH charting perspective, page-476
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Last
$2.45 |
Change
-0.070(2.78%) |
Mkt cap ! $162.4M | |||
| Open | High | Low | Value | Volume |
| $2.51 | $2.51 | $2.45 | $415.9K | 167.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 14867 | $2.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.48 | 90 | 1 |
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| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| AVH (ASX) Chart |