Since the company announced the SPP on 25 Nov, we have seen more than half a million short positions closed out. If the market was expecting the share price to fall after the SPP, I would have expected to see an uptick in shorts. I take this as a good sign for my long position on this stock. It's worth noting that 175k short positions were closed out on Monday (12% of the day's trade), which is when we saw a surge in volume. On the other hand, the shorters have shown no urgency in exiting their trades. Perhaps they think the share price has further to fall.
Impact of SPP on shorts
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 (20min delay)
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Last
57.0¢ |
Change
-0.045(7.32%) |
Mkt cap ! $51.43M | |||
| Open | High | Low | Value | Volume |
| 59.0¢ | 62.0¢ | 57.0¢ | $9.859K | 16.60K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 20933 | 54.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 60.0¢ | 19075 | 1 |
View Market Depth
| Last trade - 16.10pm 06/05/2024 (20 minute delay) ? |
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Last
59.0¢ |
Change
-0.045 ( 2.98 %) |
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| Open | High | Low | Volume | ||
| 56.8¢ | 62.5¢ | 56.8¢ | 6416 | ||
| Last updated 15.59pm 06/05/2024 ? | |||||
| SRL (ASX) Chart |