in simple - you are wrong. You do not need to win against 4.4% of shortage power. You only need to be unpredictable and able to win against a short attack. We need to seed fear against the shorters...
What do you think how shorters work? ... its all about fear and giving the feel of "your chosen stock is a dog".
The most vulnerable time of a stock is, when all the retail shareholders have bought in and are waiting for share price rehabilitation. No one buys singificant volumes and all are "waiting" ... its so easy to let the share price drop because, seeding fear is very simple and small trades via left-right hands are doing the rest.
Yes! The real value of a company is defined by its assets (and not the share price), but ask all the "moms and dads" that invested in a stock with a good story and 10 good news in row, how they feel.... fear .. (even if their decision in good fundamentals was well choosen)...
STX Board is able to do something, but finally I believe that even they have lend their shares to others to earn some 5,x% of fee because, they know if a takeover comes in, the reasonable fair value will be agreed in an negotiation. So, who cares about the current share price...??? (except moms and dads)
And as they are not able sell a higher amount of shares on market (a shame to report it), taking >5% is very welcome for "stranded money"
its better to sit on 60 Mio shares that are undervalued but you get a lending fee of xx%, instead of sitting on 60 Mio shares without anything except a loss.
Its not only the Vanguards, BlackRocks, StateStreets... it's the system itself.
But... in those days... that's the game...
oh what a shame... I'm missing the good old days, where drilling luck, geology and knowledge was key to success
sorry, it's late (early) in the morning... maybe i'm too emotional... but 20 years on ASX ... it's really a shame what has happened to ASX/ASIC
cheers to all
STX Price at posting:
16.8¢ Sentiment: Buy Disclosure: Held
(20min delay)