Looks like this mornings action is a welcome relief to many longs.... there's still plenty to go, but it's a good start!!
Interesting to note that we had another 6.25m short sales yesterday on top of circa 6.8 the day before, taking MTS to a net short total of some 139.5 million shares or more than 15% of issued capital. I'm just curious as to how much these shorts are going to need to pay to buy back this volume of stock given we have seen announcements from the likes of NAB (and others) that investors are gladly picking off this stock (sold by the shorters).
As they say: "... a journey of a thousand miles begins with just one step..." (or in our case just a few cents). I am certainly looking forward to this long journey and I reckon there will be some fast moving days amongst them. Today looks like it's one of those days!!!
GLTA
MTS Price at posting:
$1.42 Sentiment: Buy Disclosure: Held
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