@Silverchair I'd personally like for CUV to start doing share buybacks, that sounds great to me. But I don't see any evidence for "3 Million fake Sell shares" or "fake liquidity". As far as I can tell, you're describing (and criticising) the practice of short selling as a concept, which might have some merit. But I gather the 3M figure you're citing is the number of shares shorted as reported to ASIC. If these were all naked shorts, and weren't backed by real shares then they would indeed be fake shares, fake liquidity, and highly illegal. But how do you know this is the case? The majority of short positions reported to ASIC certainly aren't naked shorts, most are backed by real shares loaned by real shareholders.
You say these CUV shares are "tightly held" but how do you know? As far as I can tell, you're speculating, opining very strongly, but showing no evidence. It could very well be that a major CUV shareholder is loaning their shares to shorts to make an income. This doesn't seem implausible to me given the stock pays a very tiny, token dividend. There could be pressure to monetise it, and securities lending isn't an unusual thing for major investors to do.
BNY Mellon Asset Management owns 8.7% of the company. For all we know it could be lending the entirety of short positions as reported to ASIC. I'm not saying this is likely, but it seems at least as plausible as 3 million naked shorts.
Interestingly enough, BNY Mellon offers a security lending service, so they definitely engage in the practice! https://www.bnymellon.com/us/en/solutions/capital-markets-liquidity-financing/securities-finance.html
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Last
$15.62 |
Change
0.460(3.03%) |
Mkt cap ! $782.6M |
Open | High | Low | Value | Volume |
$15.08 | $15.67 | $15.08 | $1.510M | 97.41K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 211 | $15.55 |
Sellers (Offers)
Price($) | Vol. | No. |
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$15.62 | 49 | 1 |
View Market Depth
No. | Vol. | Price($) |
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1 | 211 | 15.550 |
2 | 253 | 15.530 |
1 | 253 | 15.500 |
1 | 253 | 15.480 |
1 | 253 | 15.450 |
Price($) | Vol. | No. |
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15.620 | 49 | 1 |
15.630 | 1625 | 2 |
15.640 | 250 | 1 |
15.680 | 8528 | 2 |
15.690 | 253 | 1 |
Last trade - 16.10pm 14/05/2024 (20 minute delay) ? |
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Last
$15.59 |
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Change
0.460 ( 3.27 %) |
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Open | High | Low | Volume | ||
$15.30 | $15.66 | $15.30 | 8124 | ||
Last updated 15.59pm 14/05/2024 ? |
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