I'd say it was confidence. Like when a hedge fund or bank starts a position on something then goes onto bloomberg or CNBC and gives their case, half of it is advertising for themselves and the other half is trying to get other people to follow so that it will magnify their profit.
I wonder if they were confident of their short would they have leaked it to the public. ?? Most business don't talk about their affairs. He shorted a big enough amount to spook the market and big enough that the stock exchange must name the shorting firm - in this case odey. If it works Odey wins if it doesn't shares will go higher on the short squeeze.
Interesting debate chaps. The way I see it, regardless of Odeys short, the Grexit looks less likely in the short term and if div announcements are forthcoming then the short and medium future of bkir seems good. It is definitely on the up. That said I have not perused today's news but last I checked the Greeks were likely to be dug out of the hole on this occasion?
Odey Asset Management has disclosed a net short position of 175m Bank of Ireland shares since June 10, according to Central Bank figures. This equates to 0.54pc of the value of the bank and represents a €60m plus exposure. Odey declined to comment.
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