IDP Education Limited

ASX:IEL

IDP Education Limited

ASX:IEL
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$12.33 (-2.4%)
Last close price
#44
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22
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Reports (4) My Report Forum Investors
Forum Topics IEL IEL Short Squeeze?

Pinned straw:
Rick
Added 9 months ago

IDP Education is the 5th most shorted stock on the ASX with short positions on 10% of its shares. Today, following a good 1H24 result, there might be some nervousness amongst the short sellers which is helping to fuel the higher share price (up 10% at time of writing). Sometimes higher prices lead to higher prices, and we could see a short squeeze on IEL shares. It will be interesting to see how this plays out.

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Source: Shortman.com.au https://www.shortman.com.au/stock?q=IEL
mikebrisy
Added 9 months ago

@Rick I'm not sure the beat is strong enough to shift the short thesis. They could just say the headwind hasn't had sufficient time to change momentum.

Don't get me wrong, I love it when short covering drives volumes - it's a nice short term sugar hit!

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Rick
Added 9 months ago

@mikebrisy I suspect you are right and we will probably see more short-term pain ahead before it starts getting better again.

9
jayjayjayjay
Added 9 months ago

@mikebrisy @Rick I agree regarding the short term. I sold some of my shares on open at $23 as I still think there is an uncertain outlook and I had been adding at lower prices and wanted to manage my weighting. I suspect that the price will remain under pressure and an opportunity will occur to add more.

Happy with the result today however and I do believe that IEL will take market share from some of the smaller businesses in the space. Firmly believe that IEL will be a much larger company in coming years as the headwinds in this space are reduced.


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