I have taken the calculator to the data contained within the Shortman site as regards CLQ. Although my approach is somewhat simplistic, it will give a general idea of what has been going on.
I started my calculations from the 9th February, from when there appeared to be a concerted effort to increase open positions, with an outstanding balance of approx 4.6 million shares. For each day I considered the trades as being made at the average price of the end of close (that day) and the preceding day close. I used the data up to the end of trade on the 28th June.
Notwithstanding that there may have been more than one participant "shorter", I have looked at the results as though there was one, to get an idea of net action.
I have that there were a net 27,562,555 shares shorted for a net gain of $31,967,832, at an average price per share of approx. $1.16, which is close to the value of the most recent capital raise ($1.15).
Should the shorters be able to hold the share price at approximately the current level (and IMO it seems as that is what they are doing, as per today's trades), they stand to gain approx. $11 million, or at today's price, approx 14.5 million shares.
Wouldn't I just love the price to "jump" back up to the capital raise price, which is about where I think it should be.
CLQ Price at posting:
76.0¢ Sentiment: Hold Disclosure: Held
