I did not at any time state a cheap takeover will be successful…. Supposedly one was already offered if you are to take Solo’s word for it.
Nor did I state the ML will drive the price up. I believe you have made that comment.
This was never simply a hedge against taking a position on holding shares in the company. Far more sinister than that.
I’m a happy holder today. We got the ML in the bag - even though it was technically not announced yet.
Some large hedge fund - or rival company has seen there is relative weakness in AVZ - we have no firms / funds that have announced buy targets on us at all. And Cantor may potentially be helping the shorters. It all stinks.
So I would argue that this is more than just an opportunity to exit a losing position on a shorting position. Rather it is to drive the price down for a more meaningful cheap takeover offer to be announced. very keen to see how many shorts were made today in 1 weeks time (what a joke)
AVZ Price at posting:
91.5¢ Sentiment: Hold Disclosure: Held
