Commonwealth Bank of Australia (ASX:CBA) may continue to lift the broader Australian market, driven by reports that Regal Partners' (ASX:RPL) Regal Funds Management closed a short position in the stock, The Australian reported Wednesday, citing Bell Potter.
Bell's analyst Richard Coppleson noted one local institutional investor likely exited their short around AU$140, though many investors had bet on the stock falling back to around AU$120, the report said.
"Smartest decision I've seen in a long time," Coppleson said in the report.
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