I have a full understanding of how stock lending/borrowing works. ( I did it professionally, big end of town).
The discussion started on the statement that a hedge fund set up the substantial shareholding so their clients could short the stock. That was my problem.
They did not do that. It’s financial insanity to buy a very risky asset to lend out for a 1% return. The hedge fund owns the stock and gets torched if it goes down.
For CEO guy to suggest it’s not risky for the asset owner is plain ignorant.
Even the big super funds. They get returns calculated daily. If their holdings fall, they suffer.
Lending fees pay bugger all and at that end of town are really just used to offset their own custody fees.
Ann: Update - Notification of buy-back - KAR, page-30
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Last
$1.61 |
Change
-0.035(2.13%) |
Mkt cap ! $1.291B | |||
| Open | High | Low | Value | Volume |
| $1.68 | $1.69 | $1.60 | $5.324M | 3.251M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 20339 | $1.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.61 | 94270 | 57 |
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| Last trade - 13.17pm 03/10/2024 (20 minute delay) ? |
| KAR (ASX) Chart |