GREY:DULMF - Post by User
Post by
member321on Mar 20, 2011 8:50pm
344 Views
Post# 18313762
Short Interst
Short InterstShort interest fell 1,124,277 shares from 1,397,601 as of 1 March to 473,977 as of 16 March. Here is short interest in graphical and tabular form:
https://www.dailyfinance.com/company/duluth-metals-limited/dm/tor/short-interest
We do not know within those two weeks when those shorted shares were covered but it was likely between 9 to 16 March when there was a jump in share volume and share price. Here is the chart:
https://stockcharts.com/freecharts/gallery.html?DM.TO
This coincides with the closing of the Franconia arrangement on 7 March. With Franconia secured shorters likely covered in anticipation revaluation of Duluth would see a jump in share price. They did not see any further downside and are covering. Also, global panic conditions allowed them to cover heavily with a lot of panic sellers.
As conditions under which these shares were covered have not changed it can be expected the remainder will also get covered. That covering along with stabaliation of global events in Japan and Libya over the weekend should give support to a share price appreciation on Monday.