Short position update. On 08/09/15 short position of 121m shares, on 09/09/15 the short position changed dramatically and dropped to 109m shares, a drop of 12m shorted shares in one day! Yet the number of shares traded on the 09/09/15 was only 9m shares. Somehow it seems the share position evaporated without having to buy the shares on market, unless there is a timing discrepancy. It may be that the shorters were able to return the shares via the capital raising. Normal market mechanics don't seem to apply here, normally 12m shorted share positions closing in one day would add 12m to the market demand for the day and push the price up, but there is some secret magic going on, so have to admit that I may have misjudged this one. Am now starting to half expect the full short position to magically disappear after the underwriters take up the retail allocation, which would be a bit sus.
Will continue to hold regardless of any short term manipulation as it appears undervalued. Shorters reducing their exposure adds some support to that position as well. Does anyone know if there are links which provide more up to date shorting information? The buy side seems to be firming up at current prices.
All imo dyor
MYR Price at posting:
86.7¢ Sentiment: Hold Disclosure: Held
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