GXY (ASX) What is behind our Galaxy's falling share price?

Originally posted by Gekkko: ↑

That's part of the reason why GXY is available at incredible sub $2 price right now. It was a bargain, now it's a steal..Nothing wrong with the business, brilliant transactions with more-to-come no doubt..and enviable assets..just poor communicators..AT needs a decent P.A. who can sort him a public-speaking coach to help him cut-down on the "kind of this and kind of that's"..A bit like the movie : The King's Speech ..and when he starts getting verbally-assertive he should exercize it by demanding his highly-paid deal broking adviser (GXY major shareholder J.P. Morgan) stop renting out their shares to short sellers..Until then the parasites get the opportunity-to-cover under $2..

The official-transfer of US $280 million + interest from POSCO is imminent. Argentina Court's long siesta is over and that should end the sub $2 price-tag. An immediate repatriation of J.P. Morgan's GXY shares would ensure that permanently..soon with a 3 in front of it..

Not "kind of stop-renting your GXY shares while we are 'kind of' paying you to consult with your inside-access to our books"..Cease & desist having your nose in every trough, Yank Bank..it's not 'kind of' a conflict of interest..it IS a conflict of interest..and should be imvestigated by ASIC..In the meantime there's one playing-field that is even..We get to compete with the parasites buying below $2..and the more we buy, the less they get-to-cover on the cheap Regards to the longs

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There's no point telling JPM to stop renting out stock... the JPM you see in the top 20 holders is the custody business, not the beneficial owners. That is, a large index portfolio may use JPM as custodian (and ETFs etc). These are the ones authorising JPM to run a securities lending program over their holdings. GXY lending is particularly lucrative, a lender can get best part of 8-10% annualised, as opposed to the typical 0.4-0.5% on most stocks... they get the high rate because borrow in GXY is keenly sought after, as evidenced by its high short interest. If you're right about the stock, it won't matter what the short position is as its true value will be revealed.