Credit Suisse are a genuine majority holder, why does the fact that they are borrowing the stock make it a short position? As a part of the FY results they stated "Credit Suisse Holdings (Australia) Limited became a 5.36% substantial shareholder in Titomic Limited via it's CS Third Nominees Pty Ltd holder." and they have just increased this position by 1.5% again.
Credit Suisse employee Winston Loke signed off on the Titomic shares borrowing. The same person who borrowed shares in Corporate Travel Management on the 23rd of July (5.5M units @ 9.3) and offloaded them on the 10th of September (@15.6) netting a nice 34 million in profits...
31-Jul 1.6 Mil Shares on issue borrowed 15-Aug 1.6 Mil shares on issue borrowed 16-Sept 1.58 Mil shares on issue borrowed
31-July 160k shares on issue loaned 16-Sept 216k shares on issue loaned
Seeing the total volume of TTT shares currently in short positions being 0.36% of total shares on issue gives me confidence, that there cannot simply be one player shorting the stock. If this was going down, it would have been at 20c already. But as we see here, it isn't.
Looking forward to seeing what TTT has in store because the absence of news that has tangible value to us is very limited at the moment, and hence the drift in SP. History tells us that they drift out and then some announcement sees a jump in price, very predictable and it's all about timing the buy! Let's just hope whatever they're doing is working and proving the concept, because that's the hurdle we seem to be tripping over.
TTT Price at posting:
69.5¢ Sentiment: Buy Disclosure: Held
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