Shorts are getting out of BOE at any price, WAP last Wednesday was $4.01 and they purchased 1.6m shares on the day. They are averaging 1.1m shares buying back each day since they decided they needed to head to the door. Given the high price they are paying for the shares there new get out of jail number is $3.05 for the 96m shares they still need. The shares since the result came out on the 29th April have averaged a increase of 1.8% per day. If for fun we assume they get 1.0m shares per day they have a further 96 days to get them. If the shares increase 0.5% per day average then they will be at $6.40 by then which is very possible. The short sellers loss will be $286 m. If the shares average 0.75% then the value in 96 days will be $8.13 and the loss $392 m. Either way the short sellers are in for a very badly burnt ass unless something unexpected happens. Have a great day all
BOE Price at posting:
$3.57 Sentiment: Buy Disclosure: Held
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