BOSS ENERGY LTD (ASX: BOE) shares plummeted 10.00% in pre-market trading on Monday, marking a significant downturn for the uranium company. The stock's sharp decline comes amid increasing pressure from short sellers targeting the uranium sector.
According to the latest ASIC short position report, BOSS ENERGY LTD continues to be the most shorted stock on the ASX, with short interest rising to a staggering 24.8%. This heightened short activity indicates a strong bearish sentiment towards the company and the broader uranium market, likely contributing to the stock's steep decline.
The concentrated short-selling activity in the uranium sector is not limited to BOSS ENERGY LTD. Other uranium-related stocks, such as Paladin Energy Ltd and Deep Yellow Limited, are also facing significant short interest, suggesting broader concerns about the uranium market's near-term prospects. As short sellers continue to bet heavily against uranium producers, BOSS ENERGY LTD and its peers may face continued pressure on their stock prices in the coming weeks.
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