This is far from the most shorted stock. According to latest ASIC short sellers list, it is sitting in now at about 3.8% of the reported total stock in issue shorted. This places it 64th on the list. Metcash and Myer hold the most shorted positions at >17%.
I've a feeling it has - absent any negative developments - bottomed out a little here. In my view (grain of salt etc) GEM SP will trend upwards as the fundamentals, relative to competitors, are inherently worth more than this.
ATM There's just a bit of uncertainty and wondering at how the hell you can screw up a settlement that badly...
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