Jrowl1,
I have stated my case for being short on many occasions. If I wrong I will take a hair cut. Good luck to you and the additional long that you took today.
My reasons for being short were / are:
1) Recent price rally in thermal coal will not hold - looks like I'm being proven right;
2) WHC have reported they have and EBITDA/interest covenant on their borrowings (on traditional terms) being a 12 month average. With where coal prices have been so far this year and look to be heading for the remainder of this year, my calculator can't make the numbers work for them to meet a traditional covenant.
3) When a company can't meet covenants their debt lines are no longer assured - is the normal case.
Fortune favours the brave and you were obviously brave today, so I do wish you the best of luck.
DYOR all IMO, good luck to all.
Jrowl1,I have stated my case for being short on many occasions....
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Last
$7.98 |
Change
-0.005(0.06%) |
Mkt cap ! $6.696B | |||
| Open | High | Low | Value | Volume |
| $8.00 | $8.04 | $7.88 | $14.71M | 1.848M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 10463 | $7.97 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.98 | 4344 | 34 |
View Market Depth
| Last trade - 14.48pm 06/05/2024 (20 minute delay) ? |
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Last
$7.98 |
Change
-0.005 ( 0.20 %) |
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| Open | High | Low | Volume | ||
| $8.00 | $8.03 | $7.88 | 659049 | ||
| Last updated 15.07pm 06/05/2024 ? | |||||
| WHC (ASX) Chart |