Short Sellers Facing Oblivion

Whoever short sold MIG in the recent plunge to 35.5c will be dreading the announcement due by Friday.  

The suspension of the the stock this morning suggests that this will be no normal announcement and has the potential to be about a company making event.

The problem for the short sellers is that their strategy could only work if they could buy back in at lower prices to cover their position.  To do that they were banking on MIG shareholders panicking  at the bottom, which DID NOT HAPPEN.

Instead, MIG shareholders called their bluff and immediately bought it up to the current levels.  Pretty good eh @sevencents77??!!

And now we have a suspension and the prospect that MIG is going to surge on Friday and next week.

Good on ya chaps.  Hope you had some fun while it lasted coz I don't think its going to be too much fun buying to cover your shorts next week.