It will be interesting to see at what point the shorters buy back. Currently they seem to be at around 638,000 shorted shares. With burns data supposedly this quarter surely the longer they hold the larger the risk unless they somehow know something? This shorting seems bizarre assuming they are actively manipulating the price which I assume they must be doing if they keep selling to increase the short position. Who is lending them the shares?? Surely top 20 goes town to 630,000 share holding so they would have to be borrowing from a major holder wouldn't they. Who would allow their substantial holding to be pushed down like this? Would love to know who is feeding the shorters.
As a separate item,If I am not mistaken Mr Melrose is around 87 years old. Makes sense he would want to somehow divest his massive holding as we move forwards. Hopefully he passes them into safe hands.
RCE Price at posting:
82.0¢ Sentiment: Buy Disclosure: Held
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