Thank you for the clarifying, I wasn't clear. From what I can see, since Monday there has only been 5.5mil shares traded. There were is atleast 8.3mil short positions open Monday. Further, trading volumes have been somewhat normal so few of the 5.5mil would have shorters closing (if that is indeed what they are doing), however it could have been enough to keep the bias to the upside.
These are professional traders so they will exit as rationally as possible - slowly trying to give as little away as possible. However, IF they are closing positions and even if they can do so rationally (without a short sqeeze) I expect to see many more days of outperformance like yesterday. I believe this as shorters closing would place a higher weighting to the number of buyers, just as them selling placed the bias on the sell side.
That said a high liquidity sell event, such as an unexpected contract loss, would give them an exit.
I was just thinking that they saw the realisation of last year's loss as the event they were expecting, now it has occured they have no real reason to stay and are commencing their exit. Unlike KOT, I do not see this stock as fundamentally overvalued and worthy of a long term short position until the valuation is more rational. Maybe I am wrong, but I don't really see there game plan if they intend to stay short... Unless they get desperate and release some falsified/exaggerated report, as they are prone to doing. Hopefully that has happened enough now that we are all used to it and it doesn't have much of an impact, if it does occur.
All IMO, please DYOR and GLATH.
EOS Charts, page-1819
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Last
$1.60 |
Change
-0.055(3.33%) |
Mkt cap ! $307.7M |
Open | High | Low | Value | Volume |
$1.65 | $1.65 | $1.55 | $485.1K | 305.9K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 630 | $1.60 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.62 | 6000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 630 | 1.595 |
1 | 2048 | 1.590 |
1 | 2048 | 1.585 |
1 | 2048 | 1.580 |
1 | 2048 | 1.575 |
Price($) | Vol. | No. |
---|---|---|
1.615 | 6000 | 1 |
1.620 | 2048 | 2 |
1.625 | 2048 | 1 |
1.630 | 2048 | 1 |
1.635 | 2048 | 1 |
Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
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|||||
Last
$1.60 |
  |
Change
-0.055 ( 3.52 %) |
|||
Open | High | Low | Volume | ||
$1.64 | $1.65 | $1.55 | 34177 | ||
Last updated 15.59pm 06/05/2024 ? |
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