TYR 1.68% 88.0¢ tyro payments limited

I think the reality is somewhere in between. Let me explain. On...

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  1. 1,900 Posts.
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    I think the reality is somewhere in between. Let me explain. On the 7th Jan 2021 statement of 5% of customers being effected I think Tyro was stating the best information it had at the time. Given with lockdowns etc... and low volume trading in business due to Covid-19 not all terminals were in use and needed to be in use. At that time it was advised of issues but this was only 5% and hence the annoucement.

    However, by the 11-13th Jan 2021 it obtained a clearer picture as more business called in to make enquiries. At this stage Tyro informed the market that the issue was more pronounced and effected 30% of terminals. I don't believe they were hiding anything they originally just didn't know the extent of the problem.

    Viceroy Research on the otherhand has no information is relying on facebook posts and extrapolating. The are trying to grab a headline and short the share price. A headline isn't 35% of terminals are effected when Tyro states 30% are effected so they need to be more dramatic. I think Tyro caught onto their short selling and decided on a Trading pause to consider options. Then after discussing with their legal counsel decided a trading halt was appropriate to address investor concerns and get back at Viceroy Research. The aim will be to notify to the market late on Monday afternoon yo provide sufficient time for investors to read there response to the Viceroy claims and to give us insight to the extent of the problem being fixed. When trading resumes Tuesday with all the information known in the market the share price will jump 20% and this wouldnegate the short sellers gain.
 
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