Hi BobbySox72Well done on the short. I'm also one of those...

Hi BobbySox72

Well done on the short. I'm also one of those traders that love shorting esp when stock spike up - all about probability (risk vs reward). I had also raised this short sell trend around the $1.75 trending channel that the buy/sell ratio is changing and double high at $1.87 was the give away sign.

You seems to trader large sum and to earn $200K is an envy to me.

I've also shorted and made some small profit. Tried to short this on Mon but the IG Markets have no more stock left to short. This happen when the large holder wants to on-sell the shares on market - likely due to book building/cap raising that the large stakeholders/brokers are aware of, but not the retail holders. I had a suspicion at that time that the book build would be around $1 mark.

The sell side was pretty full on with constant top up to sell. Signature of institutional selling.

Looking for a mini bounce from here. Let's see if it gaps down with further lower low around $0.92 mark before bouncing back.

I expect SP to trade around 10% below cap raising price for a short 1-2 days period (generally a few days/weeks after this is issued).


cheers
pcyc