ok this is where it gets really interesting, somebody shorted 280,563 ACX on Friday 9th Oct there was a large cross trade done at 4.08pm. the price was done at $4.25.....
So by my calculations from the 28th Sep - 9th Oct there has been a total of 538,000 ACX shorted...... Thats a hell of a lot of stock shorted for such a tightly held stock that has shown no signs of weakness fundamentally and technically since listing.....
All i can say is good luck trying to cover those shorts back for a lower price because the SP has stood steady during this time so that says a lot.....
the other thing to note is that the largest pullback to date on ACX has been approx 19%, so in summary ACX is a very stable stock, the recent decline in Aug was the markets worst conditions in several years and for ACX it was business as usual the way it was performing.....
to put simply ACX is in a very very healthy uptrend, cant see any logic in shorting, but the good news will be that these shorters will be buyers soon enough just don't bet on buying it back lower......
