Watched 'The Wolf of Wall Street' for the first time on the weekend, kind of reminded me of this 'find out about planned undisclosed cap raising, go short, then act as underwriter to collect fees and close shorts through the cap raising at a lower level to make tens of millions' idea.
Short position update. Short position increased between 11/09/15 to 14/09/15 from 126m shares up to 139m shares, an increase of 13m shares in a day! The volume traded on 14/09 totalled a little over 7m shares (so the sell side for the day was nowhere near the increase in the short position for the day??). Per the shortman website only 2m gross short sales were reported on 11/09 and 14/09. How does this all reconcile?
Total short positions on 14/09/15 were a little higher than the total retail entitlement (but not by much). I think the retail shares are due to be trading on Thursday, but it will probably be a few days after that before we find out how many of the shorts will disappear due to the underwriters taking stock to close their short positions.
I would imagine after the 24/09, that myr will drop from number two in the shorted stocks, and will drop out of the top 20 fairly rapidly from there.
MYR Price at posting:
86.0¢ Sentiment: Hold Disclosure: Held
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