Given the fact that short sellers are taking advantage of the recent decline in earnings compared to the previous year but that doesn't impact the fundamentals. That is short by $5 mil but at least their revenue is up. Based on the management's half-year results, they acknowledged buyers are wary of builders going bankrupt and the management is taking advantage of acquiring more lands when there is a huge downside. This is like the classic be greedy when others are fearful.
I can foresee that short sellers are going to up their stakes by pushing down the stock price. Management has the ongoing inflows of consistent money and they have a good CFO to manage their accounts.
They have 2 strong pipelines this year and next year it's going to be even bigger. With the scarcity of properties being available out there and prices going through the roof, I do believe the buyers' sentiment will pick up again around the Christmas period.
Potential short squeeze?
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Last
$12.19 |
Change
0.020(0.16%) |
Mkt cap ! $1.484B | |||
| Open | High | Low | Value | Volume |
| $12.28 | $12.33 | $11.93 | $8.276M | 684.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 14270 | $12.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $12.20 | 5947 | 2 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$12.10 |
Change
0.020 ( 0.82 %) |
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| Open | High | Low | Volume | ||
| $12.32 | $12.32 | $11.94 | 45651 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| LIC (ASX) Chart |