Business
Why the Whitehaven (ASX:WHC) share price is rocketing 10%
The Whitehaven Coal Ltd (ASX: WHC) share price is storming higher today, despite no news out of the coal miner. Shares in the ASX mid cap are currently trading 10.36% above last night’s close.
Impressively, in intraday trade Whitehaven shares reached a 3-month high of $1.58 before settling to their current level of $1.54. These gains come on the back of a challenging few months for the Whitehaven share price.
What’s driving its resurgence?
The NSW coal miner was recently added to the list of the 10 most shorted shares on the ASX. Whitehaven was a new entry in the top 10 with short interest of 7.7%. Traders were shorting the coal miner amid reports that China was going to ban purchases of Australian coal. However as these…
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