Further to my previous post.....
The cumulative open short positions on Shortman for 29/5 and 30/5 have now been updated and we have seen a net increase in short positions on both days. On 29/5, 338k of new short positions were opened and the net increase in open short positions on that day was 238k - indicating that 100k shares were also closed out on that day. On 30/5, 689k of new short positions were opened and the net increase in open short positions on that day was 508k - indicating that 181k shares were also closed out on that day. It could be that some earlier short positions were closed out and "reset" at a new price point. The net increase in short positions from 3.94% to 4.29% over those two days is worth watching for any further movement through the coming weeks to see if there is any sustained momentum in the increase.
The financing announcement is scheduled to occur in H2, 2025 and this is expected to spark a significant upwards re-rate in the share price. Prior to that, there should be an announcement regarding the decision on Government funding approved......which may serve as their warning shot, indicating that the financing announcement is near - so the Shorters may be able to continue to play their games until the announcement on Government funding before feeling the need to close out their short positions. It is a risky game for them to play, as VUL may choose to release both announcements on the same day. That would be what I would do if I was Francis Wedin....and that would likely burn the Shorters pretty badly!
(20min delay)