M&G offloaded 12/13m shares to a consortium of brokers or whatever at $1.56 (I think). The consortium knows that M&G had disposed of everything and there is no more downside.
So the sp rises in its merry way with long termers/ow and others accumulating at these prices.
The shorters get into action and make a deal with the consortium who bought at $1.56. The shorters short at around $2 or more. (there is nothing illegal about making such deals).
Will the shorters eventually buy from the consortium to cover their position at say $1.75.
Profit for both the shorters and the consortium.
Not saying this is what's happening, but a scenario to think about, given the increasing short positions, while the 13m shares are unaccounted for!
CDU Price at posting:
$2.16 Sentiment: None Disclosure: Not Held
