Yes quite a nice short burn but from only 4% shorted and by the time they were closed the price doubled!
We are starting with 16+% shorts and that's after it's rallied 50% from the lows.
There's been a few in the US where more than 30% of the register has been sold short and it turns around to become a ten bagger in a matter of weeks only to drop like a stone again LOL.
I'm certainly not expecting that but imagine what would happen if someone lobbed an offer at MYR for a takeover.
How do you buy back 16% of the register in a situation like that?
Not expecting a takeover offer either but would not be surprised for sales to top expectations over Christmas which would leave the shorters in a pretty uncomfortable position.
MYR Price at posting:
$1.33 Sentiment: Buy Disclosure: Held
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