I have spoken to the company today and have been made aware that there is a very large short position in the US of around 2.5m shares circa $50m. So you would have to think that the shorters were hoping to get the stock back in a placement - however then the company does a strategic deal with one major player. Nice move and about time !!!!
So the shorters now need to buy the stock back and obviously liquidity is a bit of an issue - major issue - there is no stock around.
If the boys and girls on Reddit or Robin Hood get wind of this we could be in for a hell of a ride - a major short squeeze could play out very quickly and the price can only go up.
The price was up 25% last night alone on 340k shares. So good luck to the shorters trying to buy back the 2.5m shares at anything under $30. Serves them right. GLTA.
The Big Short
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Last
19.5¢ |
Change
0.005(2.63%) |
Mkt cap ! $64.70M | |||
| Open | High | Low | Value | Volume |
| 19.5¢ | 19.5¢ | 18.0¢ | $86.11K | 463.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9572 | 19.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 19.5¢ | 16170 | 1 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| 5EA (ASX) Chart |