The low volumes (demand) mean it is easy prey for short sellers. You can see the pattern in the short sales. They do a few spikes in large short sales, (up to 35% of volume on the 27th) driving prices down. The overall short position remains small and is not changing much so doesn't look like a conviction play but a day trading strategy. It's been going on for a while, with regular sizeable short sales spikes. They must be making good money from it to keep on going. The only remedy will be more demand so the price is not so easily manipulated. It's not material if you are long term hold. The other option if you can't beat them is to join them !
The low volumes (demand) mean it is easy prey for short sellers....
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 (20min delay)
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Last
59.0¢ |
Change
-0.010(1.67%) |
Mkt cap ! $122.3M | |||
| Open | High | Low | Value | Volume |
| 59.5¢ | 59.5¢ | 59.0¢ | $12.78K | 21.65K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 29181 | 59.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 60.0¢ | 1195 | 1 |
View Market Depth
| Last trade - 10.21am 22/05/2024 (20 minute delay) ? |
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Last
58.0¢ |
Change
-0.010 ( 2.52 %) |
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| Open | High | Low | Volume | ||
| 59.0¢ | 59.0¢ | 58.0¢ | 6621 | ||
| Last updated 10.57am 22/05/2024 ? | |||||
| RCE (ASX) Chart |