The sharply dropping share price in the last three days has been accompanied by increasing turnover volume. ASX turnover on Friday (12 May) & yesterday (15 May) was 1.22m/1.70m, & today looks like heading to around 1.4m. To that volume can be added the CBOE (ChiX) trades, probably at least another 10%.
For Friday, ASX reported 408k new shorts & a staggering 793k yesterday - they represent over 30% & 40% respectively of the days' sells. You would have to guess that today is probably the same.
We won't know until ASIC reports the overall shorts positions for those days (later in the week), how much short covering has accompanied those new shorts. However, whatever the underlying strategy/reason is by those involved (& that's always hard to guess/understand), it appears a significant shorting attack is a major contributor to the share price demise,
The sharply dropping share price in the last three days has been...
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Last
74.0¢ |
Change
0.040(5.71%) |
Mkt cap ! $281.0M | |||
| Open | High | Low | Value | Volume |
| 71.5¢ | 74.0¢ | 70.5¢ | $289.2K | 401.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8275 | 71.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 74.5¢ | 15473 | 3 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
73.5¢ |
Change
0.040 ( 4.46 %) |
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| Open | High | Low | Volume | ||
| 72.0¢ | 73.5¢ | 71.0¢ | 157799 | ||
| Last updated 15.56pm 03/05/2024 ? | |||||
| TLG (ASX) Chart |