High closing single price action would be explained by shorters trying to close position as @Fortunehunter101 said.
Purely speculative but maybe Shorters were banking on asset pricing and rates hikes to enable lower pricing to allow getting out of their positions?
Can anyone comment on reliability of the below link - if it is up to date there is a ~6% short value - says data is from 25 May 23
https://stocktrack.com.au/asx/pls/shorts
Personally feel like PLS was pretty downsold yesterday even with rate hike expectations etc. - plus it was up today suggesting buying pressure from somewhere - maybe the shorting speculation?
My guess is as shorters unwind their trades + positive/stable quarter + hopefully improving trading conditions in China (Rebounding Lit pricing & BYD EV sales) we may see some upward movement, Purely speculative but does anyone else have thoughts?
P.S. - I have horns coming out of my head (I am a bovine of some sorts) and I hold PLS
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Last
$3.00 |
Change
0.030(1.01%) |
Mkt cap ! $9.029B | |||
| Open | High | Low | Value | Volume |
| $2.96 | $3.07 | $2.93 | $75.87M | 25.21M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 239340 | $3.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.01 | 16185 | 6 |
View Market Depth
| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| PLS (ASX) Chart |