No. JPMorgan Nominees, the shareholder listed on the top 20 registry is the REGISTERED owner of the shares, but it is not the BENEFICIAL OWNER of the shares.
Google "Nominee shareholder" and have a read about it. Then, have another look at the registry for Galaxy (and for pretty much any asx listed company) and you'll notice that JPMorgan Nominee, HSBC Nominee, National Nominee, BNP Paribas Nominee, Citicorp Nominees etc are all there.
These companies hold on to large institutional investors funds (like our superannuation funds) and administer them. They are not the beneficial owners and they have ZERO say on whether the stocks are lent on to the "evil" shorters.
Yes, a lot of people think that Galaxy is going to be lower next year. Thats why they are shorting it. Hopefully they are wrong. In the meantime, it affords you the opportunity to buy more at a discounted price.
GXY Price at posting:
$2.63 Sentiment: Hold Disclosure: Held
