Quick question please.... Apologies if already asked... I did skim the thread but didn't see it....
It seems the finger is being pointed at Blackrock for lending out their shares to short sellers... But the obvious question keeps slapping me in the face....
Why would they do that?
They're in around 40c I think pre-consolidation??? (Correction required if necessary please). So $2.00 post-consolidation. And they're in for a lot!!!
If they short their own holdings then surely they are creating a huge book loss for themselves???!!!!
Is it to be believed Blackrock bought in and effectively created a huge short selling position by lending out their shares to push down the market so they could buy MORE at a cheaper price?????? Is that the reasoning here....?
That would point towards either an incredibly well orchestrated plan, or a very opportune trade to slap the price down and get more on the cheap, thus reducing their average buy-in price......
Kindest regards to all.
J.
GXY Price at posting:
$1.71 Sentiment: Buy Disclosure: Held
