Not an easy thing to know what they think is fair value. I guess it would depend on what price the shorters sold their stock.
Most businesses aim at getting about a 20% return.
Probably half of the shorts were sold @ $4.50 - $5.00 range before September 2023 and few million recently. Most of the other half (300m shares) @ $4.50-$3.75.
If shorters sold between $5 and $3.75, my guess is that they would probably be buying back between $4 and $3 (not including holding costs)
So half of shorters that bought about $5 must be close to their target and could start covering today. The other half who sold at $3.75 could probably break even @ todays prices.
thing is GS has a $2.90 so they will probably hold on to their positions till we get to $3
Not an easy thing to know what they think is fair value. I guess...
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Last
$3.20 |
Change
-0.020(0.62%) |
Mkt cap ! $9.631B | |||
| Open | High | Low | Value | Volume |
| $3.22 | $3.23 | $3.18 | $79.04M | 24.54M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10000 | $3.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.21 | 493680 | 10 |
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| Last trade - 16.10pm 20/06/2024 (20 minute delay) ? |
| PLS (ASX) Chart |