LYC 0.33% $6.07 lynas rare earths limited

Funkymonk,I am trying to understand this shorting business. If...

  1. 1,092 Posts.
    Funkymonk,

    I am trying to understand this shorting business. If the SM are still planning on taking LYC lower, what's the most they can do? take it another 10 cents lower? Assuming this is what they are planning, where is the logic in that. Wouldn't it be more in their interest to close off their shorts at this point and as we all know, if they want to make a big debacle of any announcement to take this stock up to $2.00 tomorrow they can. If they have no interest they won't as we have well and truly seen! I just don't understand where there is money to be made for them to the downside as oppose to making millions to the upside. The fundamentals got nothing to do with the stock going forwards or backwards, that has been proven to date. So it's a case of when they decide to go uphill now. I just don't see these "smart money" people thinking, "wow! we have just made another $500000 today when they know dam well they can take it up from this point and make 10x that amount"! I don't believe they are in this whole game to make piddly amounts. I know the basket price is down, and the elections are coming up and blah, blah, blah, but at the end of the day the smart money will play the stock to where they want it, when they want it. For them to go to all this trouble to take it down another 10c possibly?? doesn't sound right at all to me. I may be wrong, but the way I see the activity is that they may be accumulating at this point and making sure they squeaze every last share out of every last holder (volumes haven't been overly big, so the supply must be becoming less and less?). Any feed back on why i'm saying doesn't make any sense would be welcome. I'm just trying to understand what is going on as much as the next person is.

 
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Last
$6.07
Change
0.020(0.33%)
Mkt cap ! $5.673B
Open High Low Value Volume
$6.08 $6.09 $6.02 $35.62M 5.828M

Buyers (Bids)

No. Vol. Price($)
4 298927 $6.06
 

Sellers (Offers)

Price($) Vol. No.
$6.07 30108 3
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Last trade - 16.10pm 21/06/2024 (20 minute delay) ?
LYC (ASX) Chart
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