180 million shares have been loaned out since ~23 Dec when the SP was struggling in the low $1.20s. Those borrowed shares were sold at prices ranging from low $1.20s to $1.67 on 30 Jan. Plucking an average for calculation say $1.35.
Borrowed shares must be returned, 180m is a lot to buy back, usually 10-12 normal volume trading days. Or 6 times mega-Friday.
But SP has jumped, almost certainly Friday's close greater than the selling price of the bulk of 180m shorted shares. Time to exit the short. US market had a great day and I wouldn't be surprised that $1.75 would be a median SP next week. Not investment advice, I'm just reading the leaves in the pot!
Sold at the estimated average of $1.35 then pressured to buy back at $1.75 is a loss of $0.40/share with 180m needed to be bought back is a $72m black hole.
More like brown hole. Enjoy.
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Last
83.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $2.024B |
Open | High | Low | Value | Volume |
84.0¢ | 85.0¢ | 82.0¢ | $10.00M | 11.98M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
5 | 108577 | 83.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
83.5¢ | 53840 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
5 | 108577 | 0.830 |
16 | 305827 | 0.825 |
16 | 197810 | 0.820 |
7 | 342979 | 0.815 |
11 | 174828 | 0.810 |
Price($) | Vol. | No. |
---|---|---|
0.835 | 53840 | 6 |
0.840 | 70000 | 2 |
0.845 | 62634 | 3 |
0.850 | 178500 | 8 |
0.855 | 69256 | 5 |
Last trade - 16.10pm 11/10/2024 (20 minute delay) ? |
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