@pjv Here is my position on the current shorts.
They were opened at .135 when the SP went into distribution mode, the maximum I saw was a little over 50 mill shorted so some has been covered recently. Some financial and banking institutions use them as hedges against long positions and visa-versa.
Obviously many of the larger soph's saw December as a great time to distribute and why not after a fantastic run up from 6 cents. As IMU have no advertised pending announcements due with the IND announcement being delayed it's a great opportunity for the short positions to remain open as I bet they have under .10 cents in mind. It will only be a surprise announcement from management that we're all hoping for that will rock their position.
All that aside, I still regard a less than 1% short position nothing to worry about especially on a stock with such a high SOI. Just a part of doing business when a SP has run so strongly.
Here's a FIB chart demonstrating that there is a lot more scope for retracing, that .61% would be the goal of many.
Just my ramblings.
Cheers.
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Last
37.0¢ |
Change
-0.010(2.63%) |
Mkt cap ! $81.26M | |||
| Open | High | Low | Value | Volume |
| 37.5¢ | 38.5¢ | 36.5¢ | $484.5K | 1.299M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 6574 | 36.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 37.0¢ | 5118 | 1 |
View Market Depth
| Last trade - 16.10pm 17/07/2025 (20 minute delay) ? |
| IMU (ASX) Chart |