So the battle rages on as soon as he buy back cannot be implemented. Ruthless buggers who ever they are. And where do they get all these shares from ?
YOu have to have 700 000 shares to sell them. Now I dont know the ins and outs of it but a covered shorting effort requires that one acquires the shares (from someone) to then sell into the market with an expectation of getting them back at your short strike price.
Supposing an entity A has that many shares bought at much higher prices, A then loans them to B for say $1 mill, B then has the shares and does a covered short and profits say $300 000 to the strike price where B gets the shares back again.
B then hands them back for a million bucks to A (no loss to A). A also receives some loan commission say $50 000.
A then buys additional shares at the damaged SP.
Is the above feasible (or something like it)?
Anyway, bloody crazy whatever the reason.
I am building up my portfolio on CDU again as funds come to hand
CDU Price at posting:
$2.85 Sentiment: None Disclosure: Held
