CBA 0.63% $132.66 commonwealth bank of australia.

Is shorting this a no brainer?

  1. 863 Posts.
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    I have heard news reports lately that indicate CBA have let through approximately 57,000 transactions of more than $10,000 and it is law that every single transaction above $10,000 needs to be reported to a government agency or department? Apparently every single incident can attract a fine of $18 million which potentially could result in a total fine of approximately $1 trillion dollars?

    $1 trillion dollars is approximately 10 times the value of the bank, or approximately double the total national government debt. On top of this CBA shareholders have now launched a class action.

    To my way of thinking news cannot get much worse. I would have thought Blind Freddy would be wanting to short CBA stock on the back of all of this? I have never shorted a stock in my life but I am keen to learn. How do I short CBA stock and/or do people think it is a good idea to do so?

    Cheers.
 
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$132.66
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-0.840(0.63%)
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$133.24 $134.00 $131.91 $273.8M 2.061M

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1 1307 $132.56
 

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