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retired2021

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03/03/23

09:12

Post #: 66576631
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Originally posted by PhantomGWW: ↑

The system would not let me post so tried without 'Reply' button

Hi mcbj at 18.06 today ...................134,006 WBT shares short at 1-3-2023. I do not believe in general ' .. institutions buy so as to lend out to shorters...' Some institutions do lend out but in most cases the shares they lend out are shares they have held for ' long term'.

Having been employed in the Broking Industry - many many years ago - I know there is, I believe, too much emphasis placed on 'shorting'. Especially WBT - only a 'FOOL' would short this stock, without some other form of protection, Why:-

Please all note - this is an example of what COULD HAPPEN:-
Let us assume the 134k shorter sold shares at $8.50 (near top today) and at 8.30am tomorrow the BoD of WBT call a halt to trading with the announcement ' The BoD of WBT seek a Trading Halt pending an announcement of a major event/decision /etc...... ' My wording.

Stock frozen, - buys/sells can be put on market - but not acted! As one would expect - with all the past talk the pending announcement builds up the buy side $$$$$$$ with sellers seeking more $$$$$$$$. The shorter has 3 days to cover --- oops ? The 134k shorter needs new underware- lots !

My view on todays action-- the stock had risen on the assumptions of ASX 300 - the USA presentations-other recent anns., - the much awaited news ????? and 'The Market' got ahead of itself, with day traders/investors/algos/ etc etc.

Ask yourself - what has changed within the Company? Nothing that I can see- just us/we -the shareholders' mind sets ?

Keep safe all .

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Hi Phantom - What do you mean by:
“The shorter has 3 days to cover --- oops?The 134k shorter needs new underware- lots!”

Why would the shorter need to cover?

Thanks.

Last edited by retired2021: 03/03/23

WBT Price at posting: $7.21 Sentiment: Hold Disclosure: Held
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