Can you explain the maths? I just don't see how the shorts would cover what they short in a week at a loss. The shorting business is to fight for a capitulation. They only cover when there is a clear profit or a fear of huge loss in the event of a short squeeze. So, I would imagine that the shorts only cover their old positions weeks and months back when they actually can have a decent profit. So, they might have covered the shares they borrowed 2-3 months ago. And they know that covering will cause the price to go up.
Anyway, tax loss selling is also a big part of the price drop. It's now over for this year.
Looking for the bottom, page-52
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$5.54 |
Change
-0.090(1.60%) |
Mkt cap ! $4.195B | |||
| Open | High | Low | Value | Volume |
| $5.56 | $5.65 | $5.48 | $25.43M | 4.575M |
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| No. | Vol. | Price($) |
|---|---|---|
| 6 | 47031 | $5.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.58 | 5000 | 1 |
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| IGO (ASX) Chart |