The short position shown in Shortman, is not just one shorter, there are likely to be dozens. They often act according to the same strategy, but they won't all be acting in concert. They will have different exposures and price points at which they make a loss if they get it wrong.
One or a few of the shorters have definitely been unwinding their positions on-market. You can see that on Shortman. I suspect what is driving that for the moment, is a fear of what happens when the next index re-balance occurs, when MSB will go back into the ASX-200 index. That along with (to them) the disturbing progress apparent from recent announcements, and no CR in sight for several months at least, may give rise a bit of panic down the track. Those with a weaker position will be wanting to get out as soon as they can. There clearly has been a bit of an attempt by one or more shorters to drive the price down, but it has either bounced back or not worked, because others are taking the opportunity to unwind!
Interesting times.
The short position shown in Shortman, is not just one shorter,...
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Last
$1.11 |
Change
0.055(5.24%) |
Mkt cap ! $1.261B | |||
| Open | High | Low | Value | Volume |
| $1.05 | $1.13 | $1.04 | $6.781M | 6.207M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 43856 | $1.11 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.11 | 66000 | 1 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| MSB (ASX) Chart |