TGR was shorted because the operating environment at the time was horrible (remember COVID? Restaurants shut, export channel shut) and they had a mountain of debt. Short term maybe but who knew back then that all would be ok this quickly? Shorters definitely didn't. BTW I reckon shorters got burned on this one, or made bugger all. eg There were 7m shares shorted from Dec21 to Mar21 then stock rallied sharply to $4 during which time 7m shares were bought back. Then the HUO bid...etc.
I'm disappointed. Wanted to stay and play in this one. yes the divs were good (I DRPd every time) and it's an interesting business to follow. But this is all time high prices for TGR. It hasn't been a steady growing stock, it's all over the shop due to the inherent risks of agri plus small number of large customers. Lease growth in Tas will be zero. One disease outbreak...eek.
It's a big win but mixed feelings for sure.
TGR Price at posting:
$5.14 Sentiment: Buy Disclosure: Held