Shorts are closed when returned to the original owner they were borrowed from.
If you are given shares for 8c a pop as a Capital Raising like this one, then you don't need to 'close' them on market, you can hand back the shares that you just got for 8c, close out your position without buying on market and not having any effect on the market price, all the while being left with a whole bunch of free options.
While we will never find out if this is what has happened, if it is what happened then it has been a bloody amazing play, and everyone was fooled. But it might not be the case.
If it is the case, theoretically then we should see the short position reducein the coming days.edit: in the few days after the shares are issued
Shorts are closed when returned to the original owner they were...
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Last
8.2¢ |
Change
-0.003(3.53%) |
Mkt cap ! $600.2M | |||
| Open | High | Low | Value | Volume |
| 8.5¢ | 8.6¢ | 8.2¢ | $1.246M | 14.84M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 446526 | 8.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 8.3¢ | 535664 | 2 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
8.2¢ |
Change
-0.003 ( 2.38 %) |
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| Open | High | Low | Volume | ||
| 8.6¢ | 8.6¢ | 8.2¢ | 4518456 | ||
| Last updated 15.57pm 03/05/2024 ? | |||||
| IMU (ASX) Chart |