Looking at shortman, 44% of trades on Wednesday were shorts...(Duno how they have that data. It's normally 4 days after a trade they get their info..)
Seems the shorts have us.. They love the idea of destroying a stock that has very bad sentiment, and it seems Bradken has that nailed..
Which is weird, cause even if Bradken does fall over and struggle to pay off debt and default, lightspeed will do something. It's in their best interest.
They have been buying all the way down from $2. Having a greater than 12% interest in Bradken..
After reading about the way lightspeed do business, and speaking to Bradken management, they are expecting lightspeed to be a good thing, picking them up after they fall or supporting sp, till they can get on their feet, and resources and mining start back up in the rising part of the cycle..
When that happens (and Bradken are still around, hopefully..) all will be great...
There is not a lot of optimism, especially when they drop 10% in 2 days..
BKN Price at posting:
56.5¢ Sentiment: Buy Disclosure: Held
