Even though I’m a holder, I agree that VGI has won or is winning the battle.
They shorted between what $27-$30?
I can’t see the price going above $30 at the moment, so if they close with an average of under $27, they profit.
Whether they are clever enough to quietly close their position now, that’s still to play out.
If they don’t close their position now though, there’s always a chance that are some global fund might think it’s cheap and buy up a significant stake.
But that’s just price action talk. Now, I haven’t touched on legal troubles for VGI yet because the legal sharks are trying to make a case. That has yet to play out, so it’s hard to say specifically who came out of this better off or worse off. But for sure 100%, holders are coming out worse off for now.
However, those who have been thinking of entering or have not had their fill (like me) are better off. Why? Cheap shares!
I was going to pay $27-$28 to top up my investment in the travel sector but I managed to top up at $20-$22, so I’m rather chuffed!
We’ll see how it all plays out.
CTD Price at posting:
$22.76 Sentiment: Buy Disclosure: Held
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