Shorting VBA at the moment would be like jumping off a pancake. The company confirmed that none of their debt covenants are share price related - unless Sir Richard has a fair chunk of his stake as security on a margin loan I can't see the upside (or should that be downside) for shorters.
We know that they have not burned any cash for the first 4 months of this FY - despite tough trading conditions.
Maybe I am blind but I don't see Ferrier Hodgson or the Two Marks getting a call anytime soon.
What's in it for the shorters?
Shorting VBA at the moment would be like jumping off a pancake....
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