If we can believe ASIC, there were 98.6m outstanding shorts as at 20 June (ASIC's last report).
On 21/22/23 June (Tue/Wed/Thur), ASX reported 14.0m/17.3m/12.2m new shorts. And the LKE turnover was huge on those days, with the ASX+ChiX total figures being 89m/140m/140m. So as a proportion of turnover, the new shorts were fast-declining as last week progressed (15.7%/11.3%/7.9%), having been between 25% & 36% on the preceding four trading days from 15-20 June.
What we don't know until ASIC reports from tomorrow is whether/when the short covering started to kick in. Bearing in mind last Tue/Wed/Thur saw drops of 28.4%/13.4%/16.7% in the share price, it's a little hard to see too much covering (ie buying) on those days. So I'm guessing we may see the overall shorts rise a little, over the 100m mark.
Friday (24 Jun) may be a different story. We'll see from ASX tomorrow how many new shorts were amongst the still very high turnover of nearly 132m (ASX+ChiX), but with the 15% share price rise, maybe that's the start of some concerted covering which hopefully continues this coming week.
But, as I have said variously in the past though, never try to understand or underestimate shorters
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Last
3.9¢ |
Change
0.002(5.41%) |
Mkt cap ! $63.40M |
Open | High | Low | Value | Volume |
3.6¢ | 4.0¢ | 3.6¢ | $138.0K | 3.605M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 462225 | 3.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.0¢ | 3123800 | 20 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 725316 | 0.038 |
4 | 184237 | 0.037 |
11 | 452849 | 0.036 |
20 | 1363681 | 0.035 |
10 | 625915 | 0.034 |
Price($) | Vol. | No. |
---|---|---|
0.039 | 171802 | 6 |
0.040 | 3164891 | 18 |
0.041 | 538172 | 8 |
0.042 | 595523 | 6 |
0.043 | 411466 | 3 |
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