News: BAL Bellamy's Australia Expects Additional One-Off Inventory Write-Down In H1, page-26

Smortein the shorters only started shorting at 10.00 downward, they have very large positions sub 9.00 and sub 8.00 so yes some of them are banking on bad news that doesn't seem to be coming. If you want to see the trend go to shortman website. The problem with shorts is the interest in margin loans so they need the share price to fall substantially to be in the money. If the share price stagnates at $7.50-$8.50 then in the long run they will bleed money. If it rises to $9.00 or beyond they are in trouble. A good example is A2M with 5% short they had good news and this caused short squeeze upwards. Those that shorted at $20 were only 2% of stock, the majority of the shorts only happened over the last 2-3 months.