He cant buy because his superfund was tied to the MSCI index.
WBT were removed from this index 2 weeks ago hence no longer being able to buy. If you look at shortman you will see the shorters covered roughly 50% of their outstanding short positions. There were also expecting ASX300 removal in a few weeks which would have seen them buy liquidity from ASX300 funds and be completely out Scott free.
This hasn't happened which means they have 11m shares outstanding to cover before the WBT announcement or risk a short squeeze if the announcement is material.
Right now they are taking out more shorts to drop the price so their cover average is as low as possible or they think WBT is full of sh1t and wont announce anything material.
Running discussion on SP, page-8907
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Last
$3.53 |
Change
0.340(10.7%) |
Mkt cap ! $670.3M | |||
| Open | High | Low | Value | Volume |
| $3.19 | $3.56 | $3.19 | $4.647M | 1.356M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4233 | $3.45 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.57 | 6050 | 1 |
View Market Depth
| Last trade - 16.10pm 18/11/2024 (20 minute delay) ? |
| WBT (ASX) Chart |