My read is that some that have a small profit (or large for that matter) are exiting as quietly as they can. We will get occasional surges in price/short volume as one or more panic for the exits - the run to the 1.70's is testament to that. That is until it reaches critical mass when a short squeeze is triggered by many panicking and running for the exits...... higher highs and higher lows means that the squeeze is approaching and it is a serious game of chicken at this point.
Problem for our short friends in this game is threefold:
The price of money is getting more expensive by the day - eating any profits over time.
The company holds the reporting/news cards - good or bad? Essentially it is a Red or black bet on a roulette wheel but PNV knows the likely colour!
Closing 1/4 mil short shares isn't gonna get this done fast enough if the news is good which most feel it may well be.
GLTAH BNTS's
Short Activity in PNV, page-3856
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Last
$1.99 |
Change
0.010(0.51%) |
Mkt cap ! $1.371B | |||
| Open | High | Low | Value | Volume |
| $1.98 | $1.99 | $1.94 | $2.913M | 1.478M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 10216 | $1.96 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.99 | 3689 | 1 |
View Market Depth
| Last trade - 16.10pm 06/11/2024 (20 minute delay) ? |
| PNV (ASX) Chart |