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12/01/21
13:04
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Originally posted by joewolf:
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It's more difficult with a stock like UMG. Is it being shorted if you look at the Shortman website it was when it listed but that has declined. There is an uptick recently but on a very low base. If there are overseas parties who don't really feel the pressure to disclose or in a stock like this it could be under 5% so no need to disclose. My view is that PPT is slowly unloading as they have been doing. This stock doesn't have the following to absorb those sort of exits. They dropped 1% in mid-November and looking at the disclosure sheet all trades were decreases. They have not sold another 1% yet but if they have been selling it should appear soon. All of their sales had a base price of $4.50 so maybe what they do is cap the upside so maybe it's the half-year they will sell some more. . That in itself is a catalyst for decline as smaller holders often look to the underperforming part of their portfolio to make changes. This is in my underperforming basket right now.
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Intelligent Investor this morning upgraded UMG to BUY up to 4.50. Basic thesis that business was better than current price indicated and current problems temporary. I am giving serious thought to taking initial position.