Feb 06 2020
fnarena.com
Summary:
Week ending January 30, 2020
Last week saw the ASX200 take its first leg down on the coronavirus scare ahead of a second leg down and subsequent recovery this week.
Unrelated to any virus impact, aerial photomapping company Nearmap ((NEA)) posted a profit warning last week which prompted a -25% share price fall. The sharks are circling. Nearmap shorts rose to 13.7% from 12.3%. See below.
Fund manager IOOF Holdings ((IFL)) saw its shorts fall to 5.9% from 7.1%. See below.
Gold miner Resolute Mining ((RSG)) has suffered from production issues of late, resulting in asset sales and a capital raising. Shorts fell to 8.8% last week from 11.1%. While a surging gold price on the back of the virus scare might have been a trigger, most likely the reduction represents an arbitrage play in which shorters pick up discounted shares in the raising and thus lock in profits.
Last week’s movements in short positions were otherwise less than one percentage point.?
Weekly short positions as a percentage of market cap:
10%+
KLA 19.9
GXY 18.3
SYR 17.4
NEA 13.7
ORE 13.4
SDA 13.2
ING 12.2
GWA 11.9
JBH 11.3
CGC 11.1
BGA 11.1
NXT 10.5WEB 10.3
