"Shorts will USE a cap raise as a tool to avoid a squeeze and close a position. You didn’t notice shorts dropped 3% and no one here got invited to a SPP."
Coby has outlined the reason as to why no retail were able to participate. Yes I follow the data and understand shorting reasonably well.
The shorts dropped from around 10.88m to 6.25m ie a drop of 4.53m (around 2.7%).
16.66m shares were issued at a price of $3 in the raise. So around 12m shares net long purchased at $3 per share.
Since that period the short position has changed from around 6.25m (3.0%) to 5.74m (2.8%) and share price has dropped to $2.16.
I fully agree the company is extremely well positioned for exceptional share price appreciation.
WBT Price at posting:
$2.16 Sentiment: Buy Disclosure: Held
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