As of 4 trading days ago, just over 3% of the stock was shorted with nearly 5 days to cover. I really don't think the fundamentals match the degree of pessimism shown by those numbers.
With volume dropping off and the days to cover creeping upwards, I'd expect a few shorters to start exiting their positions soon, if they haven't already started. Holders don't necessarily need an announcement per se; just the high likelihood that one is around the corner will urge them to start closing. Especially as we're finding good support around the current price.
Give it another couple of low volume days to consolidate around this $5.30 to $5.40 range and we might start to see a steady climb back to $6.
All IMO. GLTAH.
As of 4 trading days ago, just over 3% of the stock was shorted...
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Last
$1.65 |
Change
0.055(3.45%) |
Mkt cap ! $318.3M | |||
| Open | High | Low | Value | Volume |
| $1.60 | $1.66 | $1.56 | $930.5K | 578.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2066 | $1.64 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.67 | 3814 | 3 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$1.66 |
Change
0.055 ( 4.72 %) |
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| Open | High | Low | Volume | ||
| $1.58 | $1.66 | $1.56 | 69456 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| EOS (ASX) Chart |