Yes definitely.
I think the last calculation put us at something 40 million Z1P shares were being used for short positions.
That's more than today's volume so there will be some that still need to cover and it's the covering that has caused such a rapid rise.
To short a growth company you have to be damn sure that it's going to fail. Zip has continued to kick goals, so shorting the company is very risky, it's like pulling a rubber band back. It can snap back very quickly and has a catapult effect on good news.
The shorts could only hold Z1P back for so long!
Big short squeeze, page-47
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Last
$2.01 |
Change
0.100(5.24%) |
Mkt cap ! $2.544B | |||
| Open | High | Low | Value | Volume |
| $1.95 | $2.05 | $1.94 | $38.11M | 19.03M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 31620 | $2.01 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.02 | 23041 | 3 |
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| Last trade - 16.10pm 01/08/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |