Sometimes things are not what they seem.
Increase in shorting may not be an expectation of down side but rather an arbitrage play on the merger.
On 8/10/21 STO closed @ $7.38 OSH closed @ $4.50; based on merger 0.6275 ratio OSH fair market value should be $4.63.
Effectively when STO is shorted and long OSH (in the correct ratio) there is 13c profit per share to be made (less costs).
Do the math on millions of short position established to take advantage of the arbitrage.
"Serious egg on someone's face right now" - somehow i doubt it
Sometimes things are not what they seem. Increase in shorting...
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Last
$7.94 |
Change
0.000(0.00%) |
Mkt cap ! $25.78B | |||
| Open | High | Low | Value | Volume |
| $7.97 | $7.99 | $7.93 | $47.72M | 6.006M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 67051 | $7.94 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.95 | 2000 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| STO (ASX) Chart |