The shorts started substantially short selling in March and peaked in July a period that saw the share price range from approximately $10.50 to $11.50 to maximum of just over 5,000,000 shares. They started closing in August until now so they are losing in excess of $3/share + costs + divis so they are in the red in the 10's of millions and I think they should consider themselves very luck its not more!!
I think what we all need to do is breath a sigh of relief as the shorts have been badly burnt by this, and I think their scramble to get out at huge losses, is sign that a) they a very lucky to have escaped a bankrupting short squeeze and b) once bitten twice (and sensibly) shy!
Hopefully once its all over, organic demand will see a more stable appreciation of what is in my mind the best company to hold on the ASX with huge growth potential!!
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