Article in the Australian today said as much as 20% of both Macquarie and BNB's scrip is currently held by shorters.....and that the ASX should bring in regulations to increase transparency over short positions, and even introduce a rule where you can only short a stock on an uptick (similar to what was introduced in the US many years ago!)
Hedge funds have been smashing illiquid stocks like BNB, MBL, LEI throughout January, and the article even reported multiple hedge funds consipiring to sell down a stock to a certain level before they all pile back in. Even talk of public offer superannuation funds lending stock to these hedge funds.
This is a disgrace, and the Australian market is getting taken for a ride by these offshore parties at the expense of Aussie mum and dad shareholders....
ASX and ASIC should deal with this promptly.
Maybe the 50c pop on the close on Friday in BNB was the start of the short covering (at least in this cycle!)
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