What can happen, and what may be "the play" again, is that relegation from an index means certain funds need to lighten their holdings. In doing so a large number of shares become available to close out a block of shorts.
Its all only guessing, but it shouldn't require x million announcements to maintain the share price of a company that is cashed up, able to break even, and growing rapidly to stay at value. $1.34 certainly is not "at value".
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Short Activity in PNV, page-6252
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Last
$2.57 |
Change
0.030(1.18%) |
Mkt cap ! $1.773B | |||
| Open | High | Low | Value | Volume |
| $2.60 | $2.60 | $2.55 | $1.327M | 514.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2507 | $2.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.58 | 4000 | 2 |
View Market Depth
| Last trade - 16.10pm 14/08/2024 (20 minute delay) ? |
| PNV (ASX) Chart |