Product is from Markit
They take the data direct from the PB
Current balance 8.6m
I guess the only flaw being difficult to see when the balance reduces as because borrow in this one tight i suspect the funds that have it will pay to hold the borrow and possibly look to short again if it rallies
Suspect has been some covering here - guess they had decent asymmetry at $3-4 now not so much
I think most of your points are fair
And yes the psychology is quite interesting
I was watching BFC closely as poor old Jordan got torn a new one when he went against the crowd - and he was largely spot on but i won't go there
I guess other debatable point is whether this is now still a concept stock
I would argue that the concept is quite proven in that they have clearly managed to sell the product to Fortune 100 companies which is a great achievement in itself - so very comfortable that there is demand for the product and its the right way forward within the HR landscape
Real question is how the product will scale and what are the results being delivered - clearly still early here - initial results promising - but the product will likely continue to evolve
Time will tell....
1PG Price at posting:
$1.02 Sentiment: Buy Disclosure: Held
