Agreed it does not seem logical that the shorts have remained in place during the flurry of apparent interest.
The only conclusion I can draw is that the shorts believe that the additional interest has come only from "tyre-kickers" and will not eventuate in a timely, higher and stronger offer ....
... and WSP can wait them out and gain control for a bargain price via creeping acquisition to about 30%.
This would give the shorters time to see how PPT goes operationally in the next year or so.
And we've seen that PPT's performance has been less than stellar for some time now.
And the short circuit to my thesis would be if PPT delivers an excellent quarterly result (FUM, revenue + cost control).
This would deliver a short squeeze, but for different reasons to your thoughts.
Hopeful for both.
Agreed it does not seem logical that the shorts have remained in...
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Last
$21.57 |
Change
-0.230(1.06%) |
Mkt cap ! $2.448B | |||
| Open | High | Low | Value | Volume |
| $21.60 | $21.80 | $21.50 | $6.345M | 293.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 890 | $21.54 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.57 | 4418 | 3 |
View Market Depth
| Last trade - 16.10pm 30/05/2024 (20 minute delay) ? |
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Last
$21.57 |
Change
-0.230 ( 1.02 %) |
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| Open | High | Low | Volume | ||
| $21.68 | $21.74 | $21.50 | 29070 | ||
| Last updated 15.59pm 30/05/2024 ? | |||||
| PPT (ASX) Chart |