The big risk with trading BBG is the high accumulated short positions...whenever some of the shorters start to close down their positions.....it could cause a stampede up with other shorters and then suddenly we may get a massive gain....similar to the short squeeze that happened in paladin a around november last year....where it jumped from 1.20ish to 1.70ish in a week or so!
billabong was 2.98 when the tpg offer was rejected...post that rejection gordon entered the market and bought 2.5 million shares and he had to pay an average price of 3.13 right....there are 30 million shares that need to be bought back!
BBG Price at posting:
$2.21 Sentiment: LT Buy Disclosure: Held
