I do find it interesting that MYR are basically the most shorted stock on the ASX. At some point though the short sellers will need to deliver the stock back, i.e. they will need to buy it, unless myr goes broke and can't see that happening while they are still generating positive cashflow. With dividends around 10% p.a. if the price stays flat short sellers are losing money, they will get sick of that eventually. A run in the share price has the potential to cause a huge short squeeze on this stock, simply because such a huge percentage have shorted it. As I don't see this company going bust I view the 21% of shorted stock as future buying demand when the price turns. Has the potential to get interesting.
MYR Price at posting:
$1.24 Sentiment: Buy Disclosure: Held
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