GLC cops a +1.24pp short hit as EOS crashes the top 10

This Week's Analysis

The tape says “cover”. The leaderboard says “pick your spots”. Across the ASX, shorts were net lighter (231 fallers vs 119 risers), yet GLC still wore a fresh, deliberate hit: 12.15% → 13.39% short (+1.24pp) in a single week, with the price finishing at $11.19 (+0.00% for the week) 1 2.

DRO is still the market’s favourite punching bag at 15.93% short (WoW -0.18%), and the positioning is tight: 17.1 days-to-cover leaves little room for a disorderly exit if the trade flips 1. Behind it, the uranium cluster keeps holding court. LOT sits at 15.78% (+0.30%) with 13.3 days-to-cover; BOE is 14.94% (+0.25%) with 10.3 days-to-cover; and PDN is 13.23% (+0.44%) with 16.0 days-to-cover 1. Prices didn’t help the longs this week either: LOT ended at $0.17 (-12.82%), BOE at $1.33 (-3.27%), and PDN at $7.29 (-13.63%) 2. The new headline in the top 10 is EOS. It’s NEW TO TOP 10 at 11.05% short (+0.14%), capping a 13-week climb from 7.01% to 11.05% 1. Crowded-exit risk is still concentrated in a few names. IPX is 12.50% short with 28.6 days-to-cover, and LYC is 12.02% short with 22.8 days-to-cover — both are the kind of setups where a single catalyst can turn “position” into “problem” 1.

Movers Analysis

GLC was the week’s cleanest statement: +1.24pp to 13.39% short, but with just 0.7 days-to-cover — a big position that can also be unwound fast if the mood changes 1. Outside the top 10, the shorts leaned into weakness in property and biotech. INA rose 5.16% → 5.76% (+0.61%) for a second straight week (streak: 2) as the price slid to $4.24 (-10.92%) 1 2. The company also flagged a “Warburg Pincus Further Revised Indicative Proposal Update” on 2026-10-20, which helps explain why positioning is getting more event-driven 3. MSB is the sustained campaign. Short interest lifted 7.96% → 8.34% (+0.39%) for a fifth straight week (streak: 5), with 31.4 days-to-cover, while the stock fell to $1.77 (-14.08%) 1 2. Then came the violent covers — and this is where the week really moved. NUF dropped 1.68% → 0.99% (-0.69pp), a -2.94-sigma unwind versus its own 13-week norm, and it’s now three straight weeks of shorts heading for the exits (streak: 3) even as the price fell to $3.06 (-3.16%) 1 2. DMP also saw a hard unwind: 11.20% → 10.45% (-0.75pp), a -2.06-sigma move, in its second straight week of covering (streak: 2) with 26.4 days-to-cover still sitting underneath it 1. DMP’s FY26 Appendix 4E shows statutory profit/(loss) after tax from continuing operations of ($134.2) million alongside underlying net profit after tax of $121.6 million — the kind of split that keeps both bulls and bears busy 4. MMS joined the outlier list too: 2.71% → 2.25% (-0.46pp), a -2.76-sigma move, while the stock finished at $18.73 (+1.79%) 1 2.