@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
5.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $431.8M |
Open | High | Low | Value | Volume |
5.9¢ | 5.9¢ | 5.6¢ | $1.037M | 17.94M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 1882949 | 5.8¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.9¢ | 399643 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 1874329 | 0.058 |
9 | 1728227 | 0.057 |
23 | 4466894 | 0.056 |
27 | 3648665 | 0.055 |
8 | 305000 | 0.054 |
Price($) | Vol. | No. |
---|---|---|
0.059 | 1360 | 1 |
0.060 | 2622845 | 17 |
0.061 | 773907 | 4 |
0.062 | 2227969 | 6 |
0.063 | 243179 | 3 |
Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
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