Zip and the Westpac overhang
Dear James, On 30 nov 20 you were saying there was an overhang on the z1p shares – 5% coming out of escrow and Westpac selling its $467 million stake , What is the status quo now? Thanking you, Indran
Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Dear James, On 30 nov 20 you were saying there was an overhang on the z1p shares – 5% coming out of escrow and Westpac selling its $467 million stake , What is the status quo now? Thanking you, Indran
Morning Indran,
We believe the determining factor in the status quo dynamic of Z1P at this point in time is the fairly aggressive short-covering that’s seen its short position basically halve from Januarys level above 8%. This unrelenting buying, which probably was aided by the GameStop surge in the US, is likely to plateau in the coming weeks and the company will then need to kick some further operational goals to push the stock to fresh all-time highs.
Take a free trial.
No payment details required.
A link to create a new password will be sent to the email address you have registered to your account.
Hi, this is only available to members. Join today and access the latest views on the latest developments from a professional money manager.
Our Smart Phone App will give you access to much of our content and notifications. Download for free today.