Weekly Reports | Mar 21 2024
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Summary:
By Greg Peel
Week Ending March 14, 2024.
Early last week the ASX200 spiked up to a new all-time high. The following day profit-takers moved in, and the index spiked straight back down again. There was another sharp fall to begin this week on a hot US PPI, which really was an excuse for previously overzealous sentiment to be given a reality check.
There was quite a bit of shuffling around in the table last week. Firstly we note Flight Centre ((FLT)) is back in familiar territory at 10.9% shorted, up from 9.9% the week before. See below.
We also note Appen ((APX)) has disappeared off the table from 6.4% shorted. Appen hit a peak last week on a sudden spike in AI hype, but has fallen -36% since after losing major customer Google, and a suitor disappearing. Looks like the shorters cashed in.
Gold miner Genesis Minerals ((GMD)) enjoyed a renewed rally in the gold price earlier this month before flattening out last week; its shorts have fallen to 7.9% from 9.0%.
Uranium developer Deep Yellow ((DYL)) had been a steady mover up the table in recent weeks, but last week its shorts fell to 8.1% from 9.8% despite a pullback in the spot uranium price.
We note soon-to-again-be uranium producer Paladin Energy ((PDN)) has popped up at the bottom of the table on 5.7% shorted, after a brief hiatus.
We also welcome back old friends Nanosonics ((NAN)) and Clinuvel Pharmaceuticals ((CUV)) on 5.0% each.
Weekly short positions as a percentage of market cap:
10%+
PLS 20.4
SYR 15.7
IEL 12.3
FLT 10.9
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