The last three links in the above do not link through so I just want to fix that up. Shorting and Distortingis a successful tactic used by many big companies and the lithium sector is experiencing this without doubt, is the reason to Control Companiesthat are positioned to supply the sector, is it Manipulationand is it legal to orchestrate massive media coverage that will impact companies and then start shorting the affected stocks to your advantage. What we are experiencing is sophisticated operations in a very grey area of the law too big and convoluted for our regulators to deal with.
It would also be very interesting to find out more about the short positions are they naked covered or both. Naked short sales are prohibited under ASIC regulation however exemptions are made when naked short selling can facilitate orderlyoperation of markets.
There is a limited number of ASX companies that are allowed to be sold short. Leveraged equities publish a list of approved companies along with the collateral requirements. Current as of the 1st of April 2019. Why is GXY not on that list?
It took months for the market to realize the full intentions of the lithium Short and Distort. That was evident with Galaxy volume and price direction around the positive announcements last year after the attack had began. Each announcement saw positive reaction followed by sustained down ward pressure until volume slipped away and the manipulators took full control of the stock.
The fundamentals are outstanding with plenty of upside growth to come, a flawless balance sheet, debt facility and an income stream all add up to GXY being able to complete the next phase of development without dilution.
GXY Price at posting:
$1.57 Sentiment: Buy Disclosure: Held
