I think its too easy to just blame the shorter's for the recent share price drop.
Back on 24th Sep 2018 our SP was 92.5 cents and the amount of outstanding shorts was 7.42%
The latest outstanding short report is 22nd Jan 2019 which shows this has increased to 8.82% and the SP had dropped to 69.5 cents on that day.
The outstanding shorts increased by only 1.4% over the 4 month period and yet the SP dropped 25%.
I personally think that yes some of that drop was due to the increased number of shorts but I think a lot of people trade on charts and not fundamentals so you can blame a fair bit of that drop on day traders buying and selling their shares purely based on what they think the chart is saying.
I think if the market ignored the charts and look purely at the fundamentals our SP would be much higher.
So in summary nearly everyone is blaming the shorts but the reality is that the day traders who use charts to trade are most likely equally to blame.
I think its too easy to just blame the shorter's for the recent...
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$3.00 |
Change
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Mkt cap ! $9.029B | |||
| Open | High | Low | Value | Volume |
| $3.03 | $3.06 | $3.00 | $41.07M | 13.59M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 97 | 622937 | $3.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.01 | 580 | 1 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
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