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Jonnymid
Average Daily Volume (3m) 26mln
12.02 volume 67mln
13.03 volume 91mln
14.03 volume 42mln
20.03 volume 50mln
02.04 -09.04 volume between 37- 50mln
....
volumes speak it self. you can calculate , last 2 months, how many shares traded. there are less and less share on the market. from 34p to 67p, it is no resistance. I doubt any one still can short these share. who knows may be GS, MS, ARCM even PMO board, they are in it together. only thing is wait for a big news to inflate the shares price to do the right issue. we will see.
I've never posted before, but sit on the sidelines and yes I am invested here (far to heavily at the wrong price !) However I think that report is fake news, ARCM need to buy circa 140 million shares, unless they have done a deal with an institution there has never been enough shares traded to allow them to purchase that volume
harryyoung, yes I read that too, allready closed, so the artcle infers :
https://www.fnlondon.com/articles/europes-top-short-bet-nets-hong-kong-hedge-fund-135m-20200427
But I dont know if they have to re-declare the poition if it has been reduced? Is it reduced if they have bought some back allready?
No Idea what I am talking about, just googled it
The ARCM is clever than most of us. don't you think that they have already bought back the share may be 20% when the price was at 10p, 20p. last 2 months, the volumes speak itself. I think , on paper , they already close the short. you can check online information, a article disclosed that ARCM short PMO, they have made £135 million pounds profit already.
Bought here yesterday, a little bit down but going to hold this one out.
Think PMO have done very well and will ride this out. Never thought I would see these prices again when it was over £1.
There will be a few games with ARCM but hopefully no dilution.
The FCA will do nothing. No point pretending that holds any weight.
ARCM are not like the majority of people here - this talk of shorts being burned etc - they have a portfolio of shorts. They can let a few burn them. You need to understand where you figure in the big picture - get a magnifying glass out
They were betting on prolonged low oil prices, they were also betting on the oil price war between SA and Russia, that back fired badly, now I believe they are stuck looking at a oil price rally and PMO in the driving seat.
ARCM are in trouble ! Otherwise we would see Odey asset management holding a massive short position as well ! They are the only ones holding a huge short in all of the FTSE listed companies.
Even Tullow don't have any shorts over 3%
They still have to explain to the FCA why they didn’t disclose - as required - that they were building an enormous short position. Big fine? Restitution of some kind? Or just a feeble tap on the wrist?
They have a plan - mark my words - would u sit on millions of dollars of shorts simply hoping for the price to drop - of course they have a plan and (IMO) the upcoming covenants is their trump cards - lets see -
I can’t see them getting out of this position with a profit to be honest. I hope they cannot close out below a quid. Fingers crossed they get financially hurt over this.
The only hope they have is a second wave hitting in the autumn.
Broom - As soon as someone gets wind of ARCM attempting to close this will go ballistic there’s not enough stock available to buy £43million worth of stock, some of us were having trouble buying £10k worth of stock let alone that amount.
Alfamale I will speak to you at 40p.. see you later
Used to be based in the States the US of A
ARCM are HK based. But run by a Turk (who go in for some bare knuckle capitalism, I think), if I recall correctly
Kind of ironic hong kongers want the UK govt to help save them from a communist takeover, yet ARCM are trying their damndest to screw over a strategic UK asset. Funny old world.
"Only problem they have PMO is not going bust."
Ridiculous statement given the current global backdrop, the debt overhanging the company, and the upcoming covenant tests.
Only problem they have PMO is not going bust.
70k bpd , with BP assets close to 100kbpd plus next year tolmount project online with another 20-25k bpd
https://www.premier-oil.com/premieroil/media/press/tolmount-east-success-1
Because ARCM are greedy and thought if PMO went bust then they would not have to buy back any shares. As a lender they would be in a position to take over the company.
Not stupid, Owl.
Sorry if this is a stupid question, but why didn't ARCM close out their short when price was under 20p?