The Short Report – 05 May 2022

Weekly Reports | May 05 2022

See Guide further below (for readers with full access).


By Greg Peel

Week Ending April 28, 2022.

Last week saw the ASX200 tip over violently on April 22 as resources stocks were crushed, largely on China’s lockdowns.

It looks like the ASIC data returned to normal last week.

EML Payments ((EML)) plunged over -40% in smart fashion last week after issuing a guidance downgrade. This only steeled the shorters’ resolve, with EML shorts rising to 10.4% from 8.9% the week before.

A uranium miner by the name of Laramide Resources ((LAM)) leapt into the table last week from oblivion to 7.4% shorted. There has been no recent news on Laramide, suggesting this is not the result of a capital raise, but as the company is Canadian-based and dual-listed we may have another example of cross-border arbitrage.

Temple & Webster ((TPW)) shares have been on the slide all year as its lockdown glow fades and inflation bites discretionary retailers. The share price did not much last week but Temple & Webster fell out of the 5%-plus table from 6.1% the week before.

Those were the notably “big” moves in shorts last week. Otherwise we welcome two newbies to the bottom end of the table in the form of Dubber Corp ((DUB)) on 5.6% shorted and Imugene ((IMU)) on 5.0%.

Dubber provides cloud-based audio recording services for businesses. The stock has lost more than half its value this year, and given no new news of late, has likely followed down not-yet-profitable stocks on the Nasdaq, along with other Australian tech names.

Biotech Imugene develops a range of immunotherapies to activate the immune system of cancer patients. The stock is not covered by FNArena database brokers but is another not-yet-profitable company, and such biotechs have also copped it on Wall Street this year. Imugene is down close to -60% year to date.

Weekly short positions as a percentage of market cap:

FLT     17.4
BET     13.3
NAN   12.4
EML    10.4

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