this thread title is a little misleading.
my take is that there is NO recalling of short positions.
This situation has arose because the maximum shares allowed to be shorted has been exceeded causing the regulator to stop any further shares be issued as short.
I am happy to be corrected here. I believe 5% is the maximum. A previous poster stated that the overall position was 215 million short. To my calculation that is 15 million over the limit.
What this means is that it will be harder to short until the stock is back under limit. It also means if the company brings out a good announcement right now it could get very exciting.
Short positions may be covered if the share price rises. There has been 2 big US hedge funds shorting this stock for at least 12 months. They follow there own rules but if one of them decides the reward is better on the long side then it will get interesting.
For mine the stock has just broken out and computer trading systems love chart directions. Thats not to say that one of the hedge funds can`t keep todays close under 51.c and keep the old trend.
lETS HOPE THIS IS THE START OF A LONG UPTREND.
DYOR
this thread title is a little misleading.my take is that there...
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Last
$6.56 |
Change
0.050(0.77%) |
Mkt cap ! $6.131B | |||
| Open | High | Low | Value | Volume |
| $6.51 | $6.59 | $6.49 | $8.348M | 1.273M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 16304 | $6.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.56 | 2708 | 2 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |