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
My read is that some that have a small profit (or large for that...
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Last
$2.44 |
Change
-0.020(0.81%) |
Mkt cap ! $1.685B | |||
| Open | High | Low | Value | Volume |
| $2.44 | $2.48 | $2.41 | $2.454M | 1.003M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 11177 | $2.43 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.46 | 1992 | 1 |
View Market Depth
| Last trade - 16.10pm 28/08/2024 (20 minute delay) ? |
| PNV (ASX) Chart |