ASX 200 closes 5.8% higher and records the biggest one day gain ever driven by panic buying in banks, miners and supermarkets.
Bought some more WBC today in small parcels at $16, $16.75, $16.80, $16.87, $16.95 and WBC closed 7.95% higher at $17.25 (+$1.27)
Short selling has not been banned yet but couple of large super funds have requested short sellers to return shares borrowed by them for short selling within 2 days. What will happen if super funds like Australian Super, Q Super etc. asked short sellers to return shares borrowed by them for short selling? We will potentially witness the mother of all short squeeze on short sellers ever seen in the history of ASX.
Some analysts have revised their recommendation for WBC to Buy. It is only a matter of time that other analysts will put buy rating on WBC as price has reached it's low point. The downside risk is limited and upside potential is quite high.
Will be plotting my WBC investment thesis against Michael Burry's ick investing methodology and provide my synopsis.
WBC Price at posting:
$17.25 Sentiment: Buy Disclosure: Held
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