1. When STO bought ESG shares they valued them at $1 2. Shorting ESG pushes the price down. 3. The price of ESG is down to 70 cents 4. Why would STO do this when they have 20% of the company? 5. People say so they can make a low ball offer. 6. STO are going to look very stupid with an offer of a bit over $1 considering they valued ESG at $1 when they bought in before the reserve upgrade. 7.STO are going to look very stupid with an offer of $1.50 when the share price is not even half of that.
Basically STO would get nothing out of shorting ESG as it would be too hard to justify a low or high offer.
ESG Price at posting:
70.5¢ Sentiment: LT Buy Disclosure: Held