The other wildcard with the daily shorts is the simple daily churning tactic for small % gains. This happens with just about every stock every day up to BHP & CBA.
On 14 July, LKE traded from 54.5c to 65.5c - that's a 20% range intraday. At one extreme as an example only, the 16m new shorts (sells) could have been "accompanied" by 16m short covers (buys) across the day. That's around $10m worth of "playing" - if that intraday playing ended up with a 1% gain, that would have been $100k profit on the day.
We are guessing at what the shorters are up to, but certainly as you point out, any of the new shorts taken out on 14 July which haven't yet been covered would be around 25% underwater after today.
Just as a further comment, as I am having to record manually how many ChiX trades there are on top of the ASX turnover, I have noted that that ChiX activity is substantial, much more relatively than you would typically see with most stocks. Yesterday (20 July), the ASX/ChiX turnovers were 41.6m & 19.2m - today was 37.8m & 13.6m.
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Last
5.9¢ |
Change
0.001(1.72%) |
Mkt cap ! $97.89M |
Open | High | Low | Value | Volume |
5.9¢ | 6.1¢ | 5.8¢ | $181.4K | 3.043M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
10 | 773915 | 5.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
6.1¢ | 444830 | 7 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
8 | 711415 | 0.059 |
10 | 1484445 | 0.058 |
15 | 735935 | 0.057 |
11 | 259509 | 0.056 |
30 | 1732796 | 0.055 |
Price($) | Vol. | No. |
---|---|---|
0.061 | 414830 | 6 |
0.062 | 618242 | 8 |
0.063 | 446741 | 9 |
0.064 | 957809 | 14 |
0.065 | 326823 | 11 |
Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
6.0¢ |
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Change
0.001 ( 3.27 %) |
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Open | High | Low | Volume | ||
5.9¢ | 6.1¢ | 5.8¢ | 1887308 | ||
Last updated 15.59pm 03/05/2024 ? |
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