There’s no shorters in this. Where would anyone get borrow?,
more the fact this got lucky. Started the roadshow at a time when every float was hot, MMM was flying, so people bid for stock blind, and bid for more than they wanted. Then the day after the book closes MMM drops 30%, ABY, ZBT and the whole ecomm sector collapses and sentiment changes. People who bid for this then actually decide to go look at the prospectus and realise its overvalued and run by questionable management. They then get filled for 100% of their bid which was 10x more stock than they wanted.
cone open day they dump it. The poor start spooks everyone else, they also dump it. And here we are at 1.05.
YFZ Price at posting:
$1.05 Sentiment: None Disclosure: Not Held