RE: We've become a traders stock6 Jan 2023 11:56
Zoros - I have to disagree with you.
Firstly - The stock “on loan” has risen by 1.5m. Doesn’t necessarily mean that only 1.5Milllion shares have been sold by the shorts, and that it is only 10% of the shares traded. It could be that 3 Million have been sold and 1.5 Million bought, being a net sell of 1.5 Million (nearer 40% of Shares traded).
Secondly- Why does someone short? To sell high and buy back in lower. Now, this shorting of GGP has been going on since Spetember 2020! They have managed to get the SP down to 8p. The purpose of shorting odd to drive the price down or to keep it low and prevent it from breaking out to different trading ranges.
Third - Shares on offer: 5,000,000,000. Shares shorted: 31,000,000. The amount is insignificant on its own, but when used for laddering which it has been since it's initial inception can have a major effect. Over 25% of shares traded in 2022 were related to the shorts. Not 31 Million but in excess of 700 Million shares.
I guess we will just have to disagree on the topic.