Yes we are now being well and truly shorted and the % of capital being shorted grows almost daily . This is a form of manipulation and is capable of destroying share value . Shorting should be restricted to large cap income producing companies but all too often we see it aimed at companies who are some years away from production and may need to raise cash. I usually check the website of Shortman which although it is four or five days behind , it still shows the daily movement and % of capital. Yesterday when I checked it was around 4% . Today it is showing 4.48% . The other thing to remember is that the shorters actually have to borrow CHN shares from an existing shareholder for a price. Once the market knows a share is being shorted , investors tend to stay away. We need some big hitting high impact good news so the shorters get burned, or as Bart Simpson said,….eat my shorts .
CHN Price at posting:
$2.78 Sentiment: Hold Disclosure: Held
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