LOT cratered 62.12%. Shorts trimmed anyway.

This Week's Analysis

LOT didn’t just fall — it hit the trapdoor: -62.12% in a week to $0.25, while still wearing the ASX’s biggest short at 22.49%.1 2 The twist is the direction of travel: shorts trimmed by -0.31% into the air pocket, right as the company rolled through reinstatement and entitlement offer mechanics.1 3 That’s not fresh conviction. That’s risk management with the tape on fire.

The top 10 was steady on the surface, but the plumbing is where the story sits. LOT remains the heavyweight at 22.49% short with 12.2 days-to-cover.1 The 13-week track tells you this wasn’t a one-week pile-on: 16.42% → 23.08% → 22.49%.1 This week’s -0.31% is a trim, not a surrender. Then there’s the “crowded exit” pair. DMP is 13.64% short (-0.06%) with 39.2 days-to-cover.1 CAR is 11.47% (-0.16%) with 37.4 days-to-cover.1 Those are positions that can’t leave quietly if the narrative turns. Uranium shorts are still camped out. PDN lifted to 12.03% (+0.07%) and BOE held 11.61% (+0.01%).1 BOE’s next datapoint is its June 2026 quarterly activities release on 2026-07-30.4

Movers Analysis

This week’s action was in the mid-table — and it split cleanly into two camps: shorts pressing weakness, and shorts covering into strength. Pressing weakness: MYR was the clearest tell. Short interest rose from 2.55% to 2.79% (+0.24%) as the share price dropped -15.38% to $0.22, with an FY26 trading update on 2026-07-27.1 2 5 Days-to-cover is 7.7 — enough to matter, not enough to scare a short.1 Sustained campaigns: CU6 ticked up again, 8.34% → 8.54% (+0.20%), extending to a 4-week streak with 11.1 days-to-cover.1 The financials explain why shorts keep showing up: H1 FY2026 revenue from ordinary activities was $0 million and the H1 FY2026 loss was $55.632 million.6 Contrarian shorting: NXT added +0.14% (8.19% → 8.33%) for a 3-week streak even as the stock rose +4.98% on the week to $13.70.1 2 That’s shorts leaning into rallies, with the last reported H1 FY2026 net loss after tax at A$(39.4) million alongside underlying EBITDA of A$115.3 million and net revenue of A$189.2 million.7 Covering into strength: CCP was the standout faller, 2.29% → 1.71% (-0.57%), with the stock up +3.25% to $13.65.1 2 The last interim dividend declared was 32.0 cents (100% franked) for H1 FY2026 — not the sort of detail shorts ignore when price starts lifting.8 EOS also saw covering: 6.51% → 6.21% (-0.30%) as the stock jumped +8.13% to $7.45, coinciding with its quarterly activities and updated revenue outlook release on 2026-07-27.1 2 9