This exactly.
There is 10% of the register that is short - #2 most shorted stock on the ASX.
Holding short is not a forever strategy - there will need to be cover sooner or later.
Add the 180m or so shorts to the buy register, and you have a neutral SP of over $2. If you sell out now you are falling into the exact trap the shorters are hoping you fall into, sell to give them the shares to cover.
Banter and general comments, page-27446
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Last
11.5¢ |
Change
-0.005(4.17%) |
Mkt cap ! $246.4M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 12.3¢ | 11.5¢ | $1.271M | 10.81M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 68 | 6581582 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 1291003 | 15 |
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| Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
| CXO (ASX) Chart |