As you would be aware HT, institutions can have very strict investment parameters that require them to sell on certain TA or FA triggers.
Just because an institution is selling does not necessarily mean it is because they believe something is inherently wrong with the company.
Apart from the shorters report, there has been no other mainstream broker downgrades.
Even the credit rating downgrades have come about because of the prospect of lower revenue. Even this becomes self-fulfilling in that as confidence is lost, buyers of both the end product and the MIS's will hold off making their purchase.
Only time will tell if the shorters were right to begin with, but certainly the damage inflicted may lead them to be right in the future.
Let's see if management can sway opinion, produce contracts and build the type of company touted by them. Their task is certainly that much more difficult now.
On another note, I've looked, but cannot find any mention of you closing your short position until after the TH was called?
Milesy
QIN Price at posting:
29.5¢ Sentiment: None Disclosure: Not Held
