Article in the AFR this morning: Cannon-Brookes’ Grok creeps on Tyro Payments
Mike Cannon-Brookes has reached into his deep pockets to help under-fire Tyro Payments overcome a short-seller attack.
It is understood Cannon-Brookes’ investment office Grok Ventures has had JPMorgan in the market acquiring Tyro shares in recent days, following a sharp sell-off at the hands of short-sellers and shareholders spooked by recent connectivity issues.
Grok’s buying is said to have been small at this stage; JPMorgan has accounted for 6.9 per cent of Tyro trade this year, according to Bloomberg data.
However, the fact it’s buying at all could warm the cockles of nervous investors at a time Tyro’s facing its first targeted attack as a listed company.
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