Short interest on the TSXhttps://www.iiroc.ca/sites/default/files/epubs/SSALE/20231216-20231231_ShortSaleTradingSummaryReport.csv?1704103513
About a third of all sales on Aecon in December were short sales, i.e. sellers selling Aecon without owning the shares. About 1,080,000 shares short on the TSX.
Add 741,000 on the OTM US, totals 1,820,000 shares (3% of all shares) or about 7 days to cover based on 259,000 shares traded daily on average.
So if smart institutions, funds and private investors control 70% of the shares and do not sell below 20-25$, then those 3% short sellers will be chasing the 30% retail float.
As we get closer, every working day, to the end of the LSTK saga, institutions will wither initiate or increase their positions as the case may be. At the same time and as the stock will climb fast, shorts will run to cover and we will see the stock move up, hopefully above 18$ by year end.