It occurred to me that RSG might be a candidate for removal from the GDX gold miner index at the rebalance next Friday (21st). In the past when funds have got a whiff that a stock would be removed they have shorted it heavily. RSG is currently the third smallest holding in the GDX but still with 45M shares. The shorters might be hoping to get some of those if they are dumped on market next Friday.
The threshold for removal from the GDX is a bit unclear to me. For inclusion of new companies the market cap needs to be US$750M but usually the threshold for removal is less. RSG now under US$600M. I'll see if I can find some more info.
This Friday night it will be announced which stocks are being removed. If RSG has been shorted in anticipation and isn't being removed I'd expect some covering.
why falling?, page-13
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Last
66.0¢ |
Change
0.010(1.54%) |
Mkt cap ! $1.405B | |||
| Open | High | Low | Value | Volume |
| 64.0¢ | 66.0¢ | 62.8¢ | $5.998M | 9.219M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 52043 | 65.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 66.5¢ | 44686 | 2 |
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| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| RSG (ASX) Chart |