Just to clear up some of the complete waffle by a certain poster above - 'naked' shorting is not permitted on the ASX.
Shortman will show in coming days that the short interest in YFZ will be 0%, at least for a number of days if not weeks.
Existing holders must offer their shares up to a prime broker who can then lend the shares out to willing shorters.
The selling has come from IPO participants who hoped for a 'stag' profit on day 1. This did not eventuate so they are cutting their losses for a number of reasons - it was part of their plan to sell day 1, they need the money elsewhere, they've changed their mind on the sector, they've panic sold with the herd etc etc etc..
But one thing I can assure you, shorting is not the scapegoat your looking for.
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- IPO - Youfoodz Holdings Limited - 8 December 2020 #
Just to clear up some of the complete waffle by a certain poster...
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