Dear posters, have we been raked in yes we have, but do not blame NC, he too has been raked in by the shorters, they knew/know he needs capital they know it becomes urgent, so what do they do, they borrow shares from all and sundry, short the stock down as much as they can so that when the CR occurs, which they know will have to occur, they can get the stock at a realy cheap price, then they will let the stock rally and profit from both down and upside. The longterm shareholders and the short term holders are the once who lose out. The only way to fix it is to ban short selling, and to ban stock lending. How can you help. Two ways: 1. Write to your member of parliament and explain your grievance. 2. Write to your broker or question him if they lend out shares (and your super fund for that matter) if they do then tell them they are not allowed to loan yours out.
Short selling needs to be stopped and the only way is through parliament.
LYC Price at posting:
80.5¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)