Aker Carbon Capture Shares Tumble as Short Positions Quadruple Ahead of Key Dates
Aker Carbon Capture's share price has been volatile recently, with short positions quadrupling in a matter of days. This surge, coupled with upcoming critical dates, has sparked concern among investors.
Short positions in US-listed shares of Aker Carbon Capture have soared from 490,700 to 1,933,300, a staggering 294% increase. This dramatic rise has sent shares into turmoil, with the Days-to-Cover ratio standing at 13.0, indicating a potential two-week period for short sellers to close their positions.
The company has set critical dates for October, including October 10 (last day for dividend eligibility), October 13 (ex-dividend date), and October 17 (planned extraordinary general meeting and dividend payment). A liquidation dividend of 0.137 NOK per share has been announced as a benchmark for the remaining share value. Despite a shareholder group holding over 5% of the shares calling for an extraordinary general meeting on October 1 to reverse the liquidation decision, the company has corrected its final dividend, signaling its intention to proceed with the liquidation plan.
The massive short position in Aker Carbon Capture shares suggests that many market participants are skeptical about the company's rescue prospects. With key dates approaching and the liquidation dividend set, investors await the outcome of the extraordinary general meeting on October 17.
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