Super Group – Very Peculiar

By The Simplified Resource For Investing and Personal Finance • June 20, 2014

Super Group's price increased from the 52 weeks low of $1.34 on 18 June 2014 to close at $1.50 on 20 June 2014 on the back of higher than average volume. This represents a price increase of about 11.9% within 2 days. (19 and 20 June). This large increase may be attributed to short sellers closing their positions or some buying from a big fish.

A look at the short selling volume these two days ( 19 and 20 June) is however utterly surprising to me.

20 June - 595,000 shorted

19 June - 593,000 shorted

18 June - 234,000 shorted

17 June - 193,000 shorted

16 June - 131,000 shorted

13 June - 120,000 shorted

12 June -120,000 shorted

The volume of Super Group shares shorted is increased more than two folds BUT instead of the the price decreasing, the price shoots up instead. Now this ...

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