Gees Pat I thought you’d got that wrong as I checked Shortman earlier today but you are totally right. That was 26 000 000 shorts taken out last Friday amazingly big drop. Must have happened in the 4.10 pm massive trading turnover. Tell you what, that was a very easy escape for them so wonder how many more slipped out the door Mon, Tues, Wed....? Got out under 40 cents I gather. This will now be very interesting to see what recommendations brokers place on this company once they’ve finished deserting the shorts ship. Big profits made on the shorts for sure. Will they now get in to accumulation mode, go long and then start spruiking the potential of Myx only after they’ve got their portfolio set? After a dismal day today I’m now far less disappointed about buying in and doubling up yesterday. I may be wrong but I wonder whether Friday was the turning of the tide in earnest? That allows about 2 months before the August 21 results to accumulate by stealth...which could potentially be achieved at a cheap price as worldwide stockmarket turmoil provides a great opportunity for those able to see value. Unfortunately retails have to purchase blindly and take a calculated risk due to lack of genuine info from Myx, whereas brokers will manage to access info that none of the retail punters can. Any uptick in earnings will reset the valuation. I’d be happy with a 75cent share price by August but it’s just a guessing game. Think I’ll hold now and see what happens. Friday may in hindsight prove to be the turning point or alternatively just an opportunity for shorts to cover and bag a profit. Time will tell.
MYX Price at posting:
36.5¢ Sentiment: None Disclosure: Held
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