People have very short term memory... the market have known that CIM have been hiding losses in the Middle Eastern business since 30/04/2019. It is only recently that they are biting the bullet and selling those assets instead of covering it up in the balance sheet. Don't even get me started on the other issues but the ones outlined below are still rampant. Post #:40310227
And before anyone asks if I'm shorting this. The answer is no. I don't short because I don't like paying margin/interest and the smell of counterparty risks. There are better long opportunities out there. To those thinking of shorting this I would say don't do it. You cannot trust CIMs reported balance sheet. You just don't know when it will go into a trading halt indefinitely and therefore you don't know if you can buy the shares you borrowed back.... you are still liable for the shares you borrowed (in value) even if it is not trading.
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