Ironically, from these two substantial shareholder noticed yesterday and today, it's the shorters closing that kept the SP from falling too much. Very overcrowded trade. They didn't get the extra large dip they were hoping for. Looks like these two notices relate the the drop on 31 May based on shortman below. I don't know how they get away with only report today. So they must have got nervous cause they didn't get their profit warning earlier. Still have 35M to close out. Yesterday's volume was 10M. So some closed maybe another 5M closed.
It will be interesting how to watch the SP action over the next week. If long funds think we have the last of the bad news then shorters could get a little squeeze. They still have a long way to go to close out. But there will be a lot of tax loss selling as well. I reckon this is a buy at the end of the month for a short term trade.
Shorters building!, page-18
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Last
$14.71 |
Change
0.150(1.03%) |
Mkt cap ! $4.094B | |||
| Open | High | Low | Value | Volume |
| $14.59 | $14.71 | $14.38 | $8.852M | 605.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1165 | $14.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $14.71 | 8316 | 2 |
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| Last trade - 16.10pm 03/07/2024 (20 minute delay) ? |
| IEL (ASX) Chart |