China consumption reports that they will increase incomes, clearly this will lead to more oil demand.
on top of that we have 75m usd buyback - 17m of which is available now // 25m shares ish.
then we have 80m shares short.
i can’t see any left field news coming company wise. Oil price seems to have stabilised. So potentially we have 105m shares to buy(buyback + shorts) before the next general meeting.
what we do know is the shorts price is approx 1.55- so they are just starting to lose. Liquidity wise - 105m is approx 20 days volume…. This is significant.
i don’t know what causes the shorts to cover but surely one factor will be share price going up…
PB
KAR Price at posting:
$1.59 Sentiment: Hold Disclosure: Held
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