The Odd Man OutI just looked at the US Aris ticker ARMN. At market close today, share volume traded has hit an all-time high for any week from US trade. Mind you we still have one more day to put a cherry on top.
Aris is the Odd Man Out in the gold mining sector. On April 16th, Gold had an all-time high close (futures basis) of $2408. The HUI closed at 255.7 and Aris closed in Canada at 4.88.
Today, Gold is 4.1% lower closing at $2310. The HUI is up +2.3%. Our Odd Man Out closed at 5.77 and is up
18% since April 16th. Is this rabid climb due to the April 15th press release or something else? I give it 60% odds, its the something else. The trade just seems like someone is trading on a sure bet.
Meanwhile, Aris Mining short sellers look more like Wyllie Coyote, tattooed on the pavement. Recent short sales data just came out. Short value traded is close to the year's record just a month ago. Granted the value is now enhanced due to the stock being well over $1 higher.
Aris Mining Short Data