Mineral Resources Ltd (ASX: MIN) saw its stock price plummet by 5.09% in Monday's trading session, continuing a challenging period for the mining and mining services company. The sharp decline comes as the company maintains its position as one of the most shorted stocks on the Australian Securities Exchange (ASX).
According to the latest short position report from the Australian Securities and Investments Commission (ASIC), Mineral Resources currently has a short interest of 13.9%. While this figure represents a slight decrease from the previous week, it still places the company third on the list of the most shorted ASX shares. This persistent high level of short interest suggests that many investors are betting on further declines in the company's stock price.
The ongoing bearish sentiment towards Mineral Resources can be attributed to several factors. Industry experts point to weak commodity prices, which have been putting pressure on the mining sector as a whole. Additionally, there are growing concerns about the company's balance sheet, which may be contributing to investor unease. These issues have resulted in a significant decline in Mineral Resources' share price since the same period last year, with today's 5.09% drop further exacerbating the downward trend.
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