This is a risky game the shorters are playing.
I have been monitoring shortman over the past couple of weeks after the decline and notice short numbers keep going up. (on avg 30% of volume per day are shorts)
However I am confident enough to take a short-mid term position today on auction close and believe the boat will start turning in the right direction soon. Directors buying also boost confidence in the business.
I doubt the scandal of ex chairman can affect share price from here.
Trading at all time low. Very low risk to go further down from here but very high chance of decent upside once shorts are forced to cover. Dividends have already been cut to match fall in revenue and dividend cycle cut to twice per year from four.
This will give the company additional cash flow to pay down debt and manageable cash levels.
Also with new Government regulation on child care support starting on 2 July 2018, I foresee an increase in intake and very likely increase in revenue. Happy days ahead.
(20min delay)