Looking at the ASX report for ACR for 22 October (http://www.asx.com.au/data/shortsell.txt), there are reported short sales of 123,538 with turnover of 2,739, 628 shares for Comsec and 115, 785 for Chi ( est, cant get yesterdays data so am using Today's as a proxy), which works out at 4.3% of turnover for the day.
Given the rout, with the stock down 12c and 9% and the ASX up by about 0.50%, I question that the short sellers are able to generate that much downwards pressure on price with so little trading?
It seems to me that the selling is much more widespread than just the shorts and I'm afraid it looks to me like it just might be insiders benefitting from some information that the rest of us are not in possession as yet.
I'm guessing the short sellers Today were a similar proportion and likewise the stock was again hammered in an otherwise flat market, losing another 7%.
Hope I'm wrong on this one and Q3 will be strong !
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