They’re likely sitting there waiting for the board to either call c&m or some significant change to current or future production to save cost. That type of event is going to be worth at least another 10-20% leg down (exactly what happened to CXO).
The only question is when the shorts decide they no longer see value for their risk and decide to close.
But keep in mind that over at CXO, even after their recent c&m style news, their shorts have actually increased. So what are shorts waiting for over there before they close? Possibly this upcoming quarterly but there’s probably a large chance that some of the shorts just think spod pricing will fall even further and for a lot longer - in which case there is basically zero risk to their position.
General Discussion Topics, page-128182
-
- There are more pages in this discussion • 14,031 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add SYA (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
2.7¢ |
Change
-0.001(3.57%) |
Mkt cap ! $283.0M | |||
| Open | High | Low | Value | Volume |
| 2.8¢ | 2.9¢ | 2.7¢ | $164.6K | 5.926M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 56 | 7569700 | 2.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.8¢ | 4209876 | 21 |
View Market Depth
| Last trade - 12.02pm 08/08/2024 (20 minute delay) ? |
| SYA (ASX) Chart |