Yes this is great news that they are returning the stock.
We don't have to worry about a mass shorting situation occurring now hopefully.
I have to say when I saw Credit Suisse borrowed the stock I thought they would have to be pretty stupid to borrow that much stock when a really low bottom on MYR has already been set and tested many times around .35c and then you go and borrow when it is around .39c/.40c with them thinking obviously it is massively going to go push lower than the .35c level and right before a report with an new CEO making changes. That seems like a very amateur move. I look at Myer has fallen from $4 to .35c and the ridiculously low market cap when MYR was at .35c and think this has fallen too far...hence me buying a low risk amount of the stock at .36c. Is a risk buying at such a low level around doom and gloom but really the company is just so massively under value even when at .60c and Credit Suisse thinks they could make it be cheaper than .35c. It seems like an amateur move and much more risk to short it at that level then to invest in it!
MYR SP is staying very resilient I have to say around this .55c level. Lets hope this can form the new base price around here and look to move up over time.
MYR Price at posting:
54.5¢ Sentiment: Buy Disclosure: Held
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