Let me say at the outset I do not hold shares in ABS.
But what happened yesterday on the ASX was utterly reprehensible. All Australian authorities that supervise and regulate these matters ..............HANG YOUR HEADS IN SHAME.
The stock market is not a plaything.
Ask any mum or dad around Australia, explain to them what happened to ABS yesterday, and they would be AGHAST.
The practice of superannuation funds Custodians lending shares that 9 times out ten are to be shorted is not only only deceptive it is DIABOLICAL. The shareholder is being CUCKOLDED.
The argument in favour of shorting is that it produces liquidity and narrows the bid offer spread.
Yes. But in moderation. ABS shareholders did not deserve what happened yesterday.
As far as I can see, the regulators are asleep.
If the regulators are asleep, let some legal firm take on the case and uncover the SUper/Indexed funds that are at the base of this DAYLIGHT ROBBERY
ABS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
