I totally agree Limno. I also have a significant holding of...

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flight11

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04/10/23

12:46

Post #: 70167194
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Originally posted by Limno ↑

And if it doesn't go to $2 and you waited, then what? I originally bought in well before consolidation and the only time I sold was to purchase options, all of which I exercised. I have more recently bought at $7 and again at $4 and have no regrets. I did much the same with GXY (was the most shorted stock on the ASX) but I had faith in the company. My faith was rewarded handsomely in the end despite the shorters.

Having said that, I put shorters in the same category as scammers. I find it very difficult to differentiate their modus operandi from scammers. Both manipulate the retail investors and I suggest both in an illegal way. Whilst short selling is legal, the information they have access too is not so legal and the way they use their clout to discredit companies through influencing the press (some journalists can take some blame here). They can also use legal avenues to try and discredit companies in order to drive the price down and manipulate price to suit themselves (classic example being the reduction in price prior to capital raise, although not necessarily instigated by shorters in that case). If company directors traded on information they had access to then there are severe penalties awaiting them, but for shorters it is open slather with no repercussions.

In my opinion (not advice), the only way to hurt the shorters is to buy at these low prices and hold. At some stage, they will have to purchase 6% of the shares on issue so if there is no stock available then what has to happen to the price (and the shorters). I can't imagine some of the instos selling out at a loss and if each retail holder is able to weather the storm (or buy at these prices and hold) then that is the only punishment the shorters get, but it will hurt. It has worked before in the US.

Pressure should also be brought to bear on Govt (through your local member) to question why there is one law for big business and another for the little man. Why is it that PWC can make millions by using inside information yet get away with a slap on the wrists? Company directors get severe penalties if they trade on inside information or manipulate price, why should it be different for shorters?

I can confidently say that shorters will NOT be getting my shares (not an insignificant parcel) when they need to buy .. anybody with me?

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I totally agree Limno. I also have a significant holding of Weebit shares and these scum merchants are not going to get a single one of them.

WBT Price at posting: $2.97 Sentiment: Buy Disclosure: Held
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Last $2.01		Change 0.110(5.79%)		Mkt cap ! $379.7M

Open	High	Low	Value	Volume
$1.87	$2.10	$1.87	$2.120M	1.059M

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No.	Vol.	Price($)
4	2636	$2.00

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Price($)	Vol.	No.
$2.04	7882	1

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No.	Vol.	Price($)
4	2636	2.000
2	4436	1.995
2	10441	1.990
1	3941	1.985
2	11790	1.980

Price($)	Vol.	No.
2.040	7882	1
2.050	7882	1
2.060	20000	1
2.070	2326	1
2.080	42500	3

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