I have very little understanding of the shenanigans of the share...

I have very little understanding of the shenanigans of the share market so just my thoughts…

This weeks key in the puzzle is the figure 35 million or slightly above.

There was a XT of around 35 million reported 2 days late. As I understand one broker, Client to Client.

There was one day when the shorts were around 35 million for the day.

There was a change in substantial holding notice with the figure of 35 million in it for one transaction.

So in simple terms during the week. A Lender lent 35 million shares. I’m assuming that these then were the XT. I am also assuming that they later turned up as part of a substantial holding notice.

So Where did the 35 million shares come from.

In the Annual report, there are only 12 holders with more than 35 million shares. It is possible that someone had been accumulating the 35 million over a period but looking at the daily trading figures probably unlikely.

Out of the 12 shareholders with more than 35 million holding we can discount TG - probably not legal during the current situation. I would discount State Street as they probably don’t have any shares which haven’t already been lent out. But that is their business, so possible. There are also some other banking type institutions there that could be responsible.

Is it allowed to lend and then buy back your own shares ? This would increase shorts to spook the market but wouldn’t actually bother the lender/shorter as they are not doing it to make money. This would allow them to actually buy the shorted shares at leisure. It also means their holding has increased without actually costing them anything at that time.

Comments/corrections welcome. I find shorting a complex issue.