I haven't bothered to keep track of the shenanigans of such as Credit Suisse, but their document at the head of this thread shows that they have returned a heap of shares that they had borrowed, thus ceasing to be substantial shareholders.
What this normally means is that Credit Suisse had been shorting IMD quite heavily, and have now ceased ie. closed their short position. It could be that the shares were called back by the lender in which case Credit Suisse have involuntarily closed their short position, but I would think that a voluntary close was more likely (I think that lenders tend to avoid calling back shares so as not to degrade the relationship with the borrower).
Maybe they opportunistically shorted the spike on May 10, or maybe (hopefully) they lost money on the short.
I hate these shenanigans, because they unfairly distort the market by flooding it with extra shares on the initial short, but the powers that be claim that it adds liquidity.
IMD Price at posting:
$1.27 Sentiment: Buy Disclosure: Held
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