If the shorters are trying to push down the SP as they appear to be doing, that means they are selling shares, not necessarily covering. This is more or less consistent with the shorts remaining high at ~7.3%. What amazes me is that the percentage of shorts has increased into its highest range (6%-8%) when the SP has been at its lows (generally in the range below $4), since the start of September. They obviously didn't cover when the SP was at bottoming (<$3). Hard to figure out how they can make money using this strategy. If they sold their shorts at the start at $4-$5, any run-up of the SP from here will quickly see them losing money.
All IMHO, DYOR
Weebit - 2023 and beyond, page-2715
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Last
$3.19 |
Change
-0.100(3.04%) |
Mkt cap ! $605.7M | |||
| Open | High | Low | Value | Volume |
| $3.31 | $3.45 | $3.18 | $4.002M | 1.207M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 19867 | $3.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.20 | 4150 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| WBT (ASX) Chart |