Nasty, I'm no expert on investment banks but I did glance at that ann' and saw MS borrowed [for a small fee] about 5mill. shares and then MS bought over 6mill sh's , [costing 68.01c each] so I guess they have been shorting ROC till the cows come home.
Didn't the sp fall to 67.5 in a market downturn?
Was that fall aided by MS short selling?
I guess MS saw the much lower POO and the downturn in energy sector sentiment as an opportunity to pick up a guaranteed $100k minimum in a short turnover time.
After all, if they end up with about 10-11 million extra shares bought around 68.01c, including brokerage, they can offload them without any brokerage cost for 0.99c more [69c Fosun TO offer] whenever they want.
Then they can return those 5 million borrowed shares or keep them for a small fee and play more games for about a half cent gain or so.
HZN Price at posting:
26.7¢ Sentiment: None Disclosure: Held
ROC Price at posting:
68.7¢ Sentiment: None Disclosure: Held
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