I hope Geoff buys a lot more, I also thought John King's buyin of 100k shares was just pithy, he aint a pauper by any means and should have bought more like 10 million shares.
I don't think in the situation we have now Sol could get away with bullying the board into a discounted raising, it's not needed IMO but would obviously substantially quicken the turnaround.
Someones still buying big at that 59c mark, absolutely hoovering up the shares, likely another pop higher tomorrow, shorts haven't even begun to cover yet, more than 2% of the company has been shorted since we first dropped below 60c back on the 9th of Feb, that day produced a big gap that would be closed if we hit 62.5c and result in a serious amount of shorts being underwater.
There's an even bigger gap between 72c and 68c, if that fills before shorts have managed to cover this could get really interesting.
Nb: not expecting the second gap to fill this week but reasonably confident that we will hit the 62.5c mark this week, likely tomorrow IMO as that is the last day before lots of Sub holder notices start flying.
MYR Price at posting:
59.0¢ Sentiment: Buy Disclosure: Held
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