Tell me if I'm wrong here, but I think its pretty simple actually.
Index funds were forced to buy a shit load of WBT in 22/23, that drove the share price up further, shorters spot the SP is way overvalued, take advantage and borrow all of the index funds shares to bring it down to a MC thats below the 200/300 capitalisation cut-off. Shorters liquidate their short positions when the index rebalance comes about and WBT is kicked out of the 200/300. Shorters profit. Index funds take a bit of a hit, as they always do on the stocks that yo-yo in and out of the index, but make some decent coin off lending their shares out.
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Tell me if I'm wrong here, but I think its pretty simple...
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3 | 201001 | 2.250 |
11 | 32141 | 2.240 |
10 | 48069 | 2.230 |
9 | 54612 | 2.220 |
Price($) | Vol. | No. |
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2.300 | 10040 | 4 |
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