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04/10/23

12:26

Post #: 70166593
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Originally posted by Limno: ↑

And if it doesn't go to $2 and you waited, then what? I originally bought in well before consolidation and the only time I sold was to purchase options, all of which I exercised. I have more recently bought at $7 and again at $4 and have no regrets. I did much the same with GXY (was the most shorted stock on the ASX) but I had faith in the company. My faith was rewarded handsomely in the end despite the shorters.

Having said that, I put shorters in the same category as scammers. I find it very difficult to differentiate their modus operandi from scammers. Both manipulate the retail investors and I suggest both in an illegal way. Whilst short selling is legal, the information they have access too is not so legal and the way they use their clout to discredit companies through influencing the press (some journalists can take some blame here). They can also use legal avenues to try and discredit companies in order to drive the price down and manipulate price to suit themselves (classic example being the reduction in price prior to capital raise, although not necessarily instigated by shorters in that case). If company directors traded on information they had access to then there are severe penalties awaiting them, but for shorters it is open slather with no repercussions.

In my opinion (not advice), the only way to hurt the shorters is to buy at these low prices and hold. At some stage, they will have to purchase 6% of the shares on issue so if there is no stock available then what has to happen to the price (and the shorters). I can't imagine some of the instos selling out at a loss and if each retail holder is able to weather the storm (or buy at these prices and hold) then that is the only punishment the shorters get, but it will hurt. It has worked before in the US.

Pressure should also be brought to bear on Govt (through your local member) to question why there is one law for big business and another for the little man. Why is it that PWC can make millions by using inside information yet get away with a slap on the wrists? Company directors get severe penalties if they trade on inside information or manipulate price, why should it be different for shorters?

I can confidently say that shorters will NOT be getting my shares (not an insignificant parcel) when they need to buy .. anybody with me?

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Can you explain 1. what is "the information they have access to" and 2. where do they obtain it?

Thanks.

WBT Price at posting: $3.01 Sentiment: Buy Disclosure: Held
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Last $1.95		Change -0.025(1.27%)		Mkt cap ! $367.4M

Open	High	Low	Value	Volume
$2.00	$2.04	$1.94	$1.195M	601.5K

Buyers (Bids)

No.	Vol.	Price($)
3	26680	$1.94

Sellers (Offers)

Price($)	Vol.	No.
$1.95	2000	1

View Market Depth

No.	Vol.	Price($)
3	26680	1.940
2	5485	1.935
2	7500	1.930
1	3109	1.925
4	11834	1.920

Price($)	Vol.	No.
1.950	2000	1
1.960	2879	1
1.965	3109	1
1.970	3109	1
1.975	3109	1

Last trade - 16.10pm 10/09/2024 (20 minute delay)

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Running discussion on SP, page-5598

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