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Boyo "Are folks here assuming that the pro shorters still need to buy back the shares that were shorted ?"
The stock on loan figure is NET SHORT position. Its not they have borrowed shares, and done nothing with them. Rye Bay are NET SHORT 10 Million shares. These need to be bought back at some stage. The total amount of shares traded today was a little over 10 million, and it went up 11%. Just imagine what's going to happen once these ret*rds begin to close there short, the market is going to keep pushing up the price to squeeze them. Not only that but new regulations come into effect from 1st Feb meaning every 0.1% move up or down needs to be notified by shorters (from 0.2% previously). Something tells me we're going to be hearing more from our friends at RyeBay over the next few weeks. Source -
"This means that from 1 February 2021 the notification threshold for issued share capital of a company that has shares admitted to trading on a UK trading venue (UK Regulated Market and UK MTF) will be 0.1%."
Long and strong
Boyobach,
Well in a few days I can give you the stock on loan figure, are you suggesting it might be anywhere close to zero ?
BOYO YOUR COMMENTS MAKE NO SENCE....
Are folks here assuming that the pro shorters still need to buy back the shares that were shorted ? They don't need to return them and they've had eight working days since the 15th to reacquire or continue trading them on small margins. They don't make money by sitting on their hands.
Ironhide,
Try buying 38m shares. Euroclear shows 11.2% stock on loan at end Dec 2020 was 11.21%
A very positive day for PFC, especially given the state of the wider market.
However there was a bit of hype here wasn’t there? - ‘125 Breakout ‘ supposedly ‘confirmed’ an hour before the close. Really? PFC did not break 125 nor did it break out of this week’s trend, not that it needed to, a 20% gain over three days in a hostile market is good going. https://invst.ly/tlt29
As for shorters - they have already made and secured their profits, so no need to worry about them unless they spot further potential. Don’t assume that big money necessarily operates in big tranches, it is possible for professionals to hoover up lots of shares without disturbing the price more than they want to - especially if they start well before the bottom.
Looking at PFC against the relevant indices (I’ve used the FTSE350 O&G and O&G Services, where PFC will obviously be an influential member of the latter) it’s clear that they have dropped with the wider market, so PFC may not be heading back to 170 immediately, perhaps around 140 at present? https://invst.ly/tltbh
To see nearly 10% rise on the back of big sell off on the broad market is a vote of confidence for value here....YET,to be fair it's no wonder after the ridiculous drop of last week....few days window for folks that had the funds and not too greedy to wait for the price to drop even lower.
Bought my 3rd tranche today and happy to hold for the longer term now.
GLA.
Dark_Knight2020,
Sure that depends upon the conviction Rye Bay, BlackRock and others have that this is going to get cheaper.
does anyone know how much this has to go up before a short squeeze takes place ?
noggers patience here will be rewarded. I get looking to sell at 150+ but below that? no way.
Noggers all i can say is, remember NEX. LOL think we both screwed that one big time!
i think it will take a good week or so for this to move above 150 then who the heavens knows especially since gamestop moved over 1300% plus % over in 2 weeks !!! 20k would have earned 411k ! nuts .. the yanks crushed the hedge fund. I bet his billionaire mates are happy with him haahhahahahahaahahahhahaahah you guys should see them all crying their little shorter eyes out on bloomberg
I am just above you paddy at 120, don't know what I will do if it goes up tomorrow, I would love to keep them till they hit 150 but you know me when you get a decent profit i usually sell.
wonderful day. I got this at 118. Thought i'd be a while before going green. I had a lump waiting for sub £1 too (greed gets you nowhere) looks like this one be on the up from now!
135p tomo then GAP up next week 165p
I might be wrong actually ....... another site says 123.35
UT looks like 122.45
Wow looking good for tomorrow, glad I brought in at 110 now.
U shape recovery looks very strong.
Great day today, here's hoping for a great Thursday