"There's nothing for them to buy"
Yes, and that is what causes the classic short squeeze. The panic should be setting in I would think.
Short positions increased by about 3M (from 6M to 9M) during the last week of Jun and first week of Jul at SPs around the $5 mark. They increased by another 2M in mid Sep at SPs ranging from about $4 down to $3.25, and in the last couple of weeks by another 1.5M at SPs around $3. These last short sales were particularly foolish IMO. There is not much chance of them seeing that SP again.
Running discussion on SP, page-6067
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Last
$2.51 |
Change
0.030(1.21%) |
Mkt cap ! $474.1M | |||
| Open | High | Low | Value | Volume |
| $2.52 | $2.58 | $2.50 | $1.029M | 404.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1855 | $2.51 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.54 | 614 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| WBT (ASX) Chart |