Someone is very exposed on NXT. Over 20,000,000 shares are now shorted. Company has $60m debt via bond issue (no need for capital raising) and the amount shorted is now (considerably) greater than my shareholding (by more than 3m+ shares).
I have had three approaches in the past few weeks to sell my entire line of stock in one hit (now more than 9% as I've been quietly accumulating) from Hong Kong (2 approaches), New Zealand and Australia. I told them every time I'm not a seller at any where near these levels. This coincides with people sending me unsolicited offers for loans, margin loans secured by my stock all in the past month when the shorter started moving past my shareholding number. They are getting desperate.
Strong day Friday. The shorter is sweating. Time to squeeze their nuts.
NXT Price at posting:
$1.74 Sentiment: Buy Disclosure: Held
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