from Coppo Report today Afterpay {7.42 0.22 3.06%}
the shorts are confused – like drunks trying to find a bar open that will serve them & has a bartender who will hear their same (it’s now very boring) monotonous story. It seems no one is listening to them any moreor their bearish story – as the stock soars back up,.
They tried (very) hard & it did work for a while, as they got so much negative press, broker support (a few bearish notes when stock was around $5.50) & downward momentum - that saw stock drop from $8.00 to $5.26. But since then they have nothing new to tell & to be honest everyone is just bored with their ramblings.
Trying to worry the mkt that a teenager (seriously is this really what they think is "big picture stuff ?? (It is ridiculous that this even got a mention in the press ) bought alcohol through Afterpay showed the desperation of the shorts (so sad that had to go this low) ( the reality is that it’s almost like a Lotto win trying to find one of the 4 or so retailers that they could do this with & the joke that was missed by all was that when the alcohol was delivered guess what .. they had a “adult sign for it”– no one was told us that at the time - it came out after !!).
I even heard some crap the other day that someone was told by their broker to sell their Afterpay as they were convinced that some rally bad news was about to come.
So they did (at $6.70) – but nothing “bad” came– (we are still waiting ..) maybe they were thinking the management selling would (as many bears / shorts argued) would crush the stock ?? soooo wrong & so simplistic is so many ways ,,, We know that the line was done so easily & it showed that that interest from instos in this stocks is extremely high..
The US expansion will continue to be released & if it is successful then $10 here we come…
I have no doubt this stock will go through $10...
When A2Milk was trading at $2.00 & I said it'd double (to $4) a few said they thought that was a stupid call.
So again i say ... Afterpay will trade above $10 & it will happen before Christmas 2018...
Shorts in Afterpay
May 8 they peaked at 9.79% or 16.2m shares (capital base 164m shares)
Now 5.69% or 12.3m shares (capital base 217m shares - after founders escrow stock came out).
BUT
So shorts you could argue have gone down by 3.9m shares- BUT on the old capital base (ie before shares came out of escrow) the shorts have gone from 9.79% to 7.5%--- so the short covering has not been as aggressive as the chart suggests.
