Yep there you go. You wouldn’t short it now. Why not? Because it’s a dangerous game doing so because in the event of positive news, such as landing a big merchant, the SP will take off very quickly because of the pessimism surrounding this sector. Incidentally a lot of other people wouldn’t short either at these prices and so we see many shorts now covered. And therein lies the opportunity. SPT may become a TO target who knows. Personally at these SP levels I see it as a compelling calculated risk. This sector is likely to continue to grow IMO as people struggle financially in an inflationary environment. People always turn to credit cards and SPT will assist people to better manage their ST debt problems rightly or wrongly. It’s not a moral judgment it’s just a fact of life. People who are no longer holders of SPT still have an interest in this company one way or another. Personally I’d rather be a holder when a big announcement is made rather than kicking myself for not getting in and missing out on the potential upswing from that announcement. Happy shorting
SPT Price at posting:
14.0¢ Sentiment: Buy Disclosure: Held
