As per the shortman graphs presented in above posts - shorts peaked out in late October at around 1.7% of issued capital and they came from zero shorts mid year. PET was an easy target as shorters prey on fear and the narrative was:
1. Can PET get their money out of China?
2. Too much reliance on China contracts.
3. Insider selling after massive SP appreciation.
4. A demanding valuation.
5. And just recently guidance was provided that was below market expectations.
The real question from here is whether there is any borrow left? If there is no borrow left its long guys getting out.
As per the shortman graphs presented in above posts - shorts...
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Mkt cap ! $15.60M | |||
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| PET (ASX) Chart |
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