AS you know, the theory is that the reason the SP is where it is at the moment is because it allows the shorters to cover en masse by purchasing MK bonds on favourable terms. If the SP had been significantly higher than $1.25, MK would be selling the bonds commensurately higher. Once they have covered via the bonds, if the theory is correct, the downward pressure on the SP will evaporate and all the MS longs picked up at these bargain prices will shine in the reflected glow of the LAMP as it moves to production.
lyc invest relations / ms / short selling, page-25
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