I think the short selling in GMG is finished. GMG now is just skin and bones, the hedge can't make money. SP just equates to cash holdings.
Even if there no official short selling, what stops a trader going to AMP and saying I want to buy 50m shares for say 60c, keep them for a month or so, and getting a guarantee from AMP to buy them back for 55c. Then the ASX just shows these transaction as off-market crossings.
Then the trader starts selling, releases any negative research they might have, hopefully there are a lot of punters with margin loans, so as the price is forced down, the margin borrowers are forced out. The trader can then buy the stock back at lower prices, then sell them back to AMP at the agreed price. Another off-market crossing noted.
I think the short selling in GMG is finished. GMG now is just...
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Last
$36.53 |
Change
0.010(0.03%) |
Mkt cap ! $69.83B | |||
| Open | High | Low | Value | Volume |
| $36.34 | $36.53 | $35.92 | $88.40M | 2.430M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2082 | $36.50 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $36.54 | 7573 | 1 |
View Market Depth
| Last trade - 16.10pm 13/11/2024 (20 minute delay) ? |
| GMG (ASX) Chart |