I thought about this and no, there won't be a short squeeze. They'll use all the shares they're getting from the institutional cap raise to cover the shorts, they won't be buying on market. Short sell the stock at 10c, cover the shorts with the 7.5c shares they get from the cap raise, keep the options, easy money. This isn't normal shorting, they're just taking advantage of this big price gap.
Perfect time to take advantage of the suppressed share price. When the instos are done making a few quick pennies, then this stock will rocket. Get in now!
PEN Short Squeeze, page-2
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Last
11.0¢ |
Change
0.005(4.76%) |
Mkt cap ! $299.2M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 11.0¢ | 10.5¢ | $563.1K | 5.234M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 94 | 9885217 | 10.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.0¢ | 6952709 | 24 |
View Market Depth
| Last trade - 12.33pm 27/05/2024 (20 minute delay) ? |
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Last
10.8¢ |
Change
0.005 ( 0.84 %) |
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| Open | High | Low | Volume | ||
| 11.0¢ | 11.0¢ | 10.8¢ | 2249173 | ||
| Last updated 12.32pm 27/05/2024 ? | |||||
| PEN (ASX) Chart |