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I didnt say Blackrock has to cover. My reply was in relation to...

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28/08/18

08:56

Post #: 35222957
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Originally posted by Furnaces ↑

Black rock doesn't need to buy back the shares. They can request to have their shares returned. In another words, those that borrowed to short have to buy back shares from open market to close their short positions. Then return the borrowed shares to black rock.

If blackrock doesnt request to have the shares returned, the shorters don't need to return but they will be counting paper losses and likely margin calls if the share price of gxy goes up.

With a major news like this coming up, I can't see the price staying down. Let's see what insto like black rock will do.

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I didnt say Blackrock has to cover. My reply was in relation to a post on the lending of shares, not the borrowing of shares.

I said I hope Blackrock decides to buy more on market now that the lending out of their shares has pushed the price down. Ie another bite.

Last edited by Subs: 28/08/18

GXY Price at posting: $2.77 Sentiment: Buy Disclosure: Held
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