Re gamestop, that level was never realistic and illegal in Australia so is not a possibility here. Lachlans resignation caused some uncertainty with management continuity (IMHO) which is normal for any listed company so it's a reasonable assumption some people shorted.
I agree about thinly traded stocks in general however, a quick look at the info we are able to get for HGO specifically:-
| Date | Reported shorts | Traded volume | % shorts of traded volume | SP movement (%) |
|---|
| 1 | 2/8/24 | 181,930 | 8,454,533 | ~2.2 | 0 |
|---|
| 2 | 1/8/24 | 40,848 | 4,202,953 | 0.9 | +1.67 |
|---|
| 3 | 31/7/24 | 7,452 | 5,967,108 | 0.1 | 0 |
|---|
| 4 | 30/7 | 58,360 | 6,335,467 | 0.9 | -3.2 |
|---|
| 5 | 29/7 | 276,249 | 8,147,285 | 3.4 | 0 |
|---|
At current shorting levels, the information is not showing any noticeable with SP decline indicating that shorting is not a significant reason for this movement leaving a comparison between copper price and HGO.
Orange is HGO, yellow is HG1! (copper futures). There is an almost direct correlation since Feb 2024 which includes the time Lachlan resigned.
We already know our views on charting differ however, my charts appear correct so far. Respectfully, lets agree to disagree on charting.
With this info, it appears that shorting has no direct correlation with HGOs price movement at this time.
