Altough I'm not a fan of Motley Fools marketing pieces, this caught my eye this morning.
"These are the most shoerted ASX Shares."
"Myer Holdings Ltd (ASX: MYR) has seen its short interest reduce week on week once again to 11.5%. Short sellers have been targeting the department store operator on the belief that the pandemic will ruin its turnaround plans."
Maybe something to be considered, Increasing speed of online take up and profit?
And the most important asset online is reputation as a retailer!
Myer online!
However lets consider the dark side, at what point do shorters if they have such a dim view start to consider the following again from Motley Fool this morning, so many ways to lose your money?
"
Speedcast International Ltd (ASX: SDA) continues to have short interest of 11.7%. Short sellers have done well with this one, but have been unable to closer their positions because the communications satellite technology provider’s shares have been suspended for most of 2020. Speedcast is busy trying to recapitalise after declaring itself bankrupt. It recently made progress, announcing a US$395 million equity commitment to complete its chapter 11 recapitalisation."
Shorters can take some reassurance that Re Finance scheme has been finalised by Myer Management.
However my experience has been after such events surprise profits are announced!
Good luck to all that can see the obvious and taken long positions.
(20min delay)