Short Activity in PNV, page-2964

And so it begins. Ask yourself objectively, not as a PNV holder, objectively. Was shorting PNV in the last year a good play? Yes, the company ran up to silly valuations that its faltering revenue growth set as a bit silly.

Was it a good short in the last six months on the prospect of ASX200 removal? Yes.

I often short stocks (particularly at times like these) for a variety of reasons, but only when I think they are really exuberantly out of whack. Rarely for a long time (Tesla the exception for over a year now, but much reduced). Its a risky and expensive investment play. Objectively, on balance, why would you continue to short PNV when its finally beginning to show the revenue growth, positive free cash flow and insider buying?

Euberance at $4? Yep. ASX removal at $2? Maybe, the selling/removal became self-fulfilling. Selling at $1.20 post ASX200 removal on fundamentals and insider buying? No thanks. Far too risky.

I expect shorts to begin to reduce now and suspect any remaining June sells are done by suffering longs mainly for tax reasons - I am buying into any dips.