Hi fligh................... They must cover ... as share t/o gets lower it puts the 'shorts' in a very- very precarious position.
As a market operator many years ago (20+ -authorised to place orders on ASX etc etc ) I saw some stocks shorted and when the tide turned -after a very positive ann., quickly, against the shorts - pandemonium took place. It was a mad mad scramble. If memory serves 1 stock went up many times its trading price in just 10+- (?) minutes. As word spread a number of stocks followed suit. The ASX called a trading halt to try and restore some sanity.............. but alas --- when the t/h dropped off - scramble again. I believe a number of shorts went badly down.(Just like Coles' so called prices now ???) Rumour then (not confirmed) but some millions$ were mentioned................. Funny enough after that saga the shorters were quiet for some time.
Not sure of year or stock...as a number were involved...'nickel' was the in thing then and was during a mining run.
I see a stock ? now in a similar situation. However one would assume the shorts are more
'ed u me cated' (???) now. But greed is a built in emotion.
Keep safe all.
Short data on WBT, page-1357
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