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I think if it goes below 20p its nailed on but surprised no comment to this point. I suspect something is being negotiated behind the scenes and thats the reason for the radio silence as its not "done"... Caught between a rock and a hard place.
For the UK, energy service provider Petrofac (PFC) was the top shorted stock with 96.20 million shares borrowed and 18.43 per cent of SI Outstanding.
The top five shorted stocks for the UK also included retailer Asos Plc (ASC) with 16.05 million shares borrowed and 13.46 per cent SI Outstanding.
That’s a helll of a lot needing buying. This is gonna rocket.
Despite the lowly share price this is a prized asset and there are many potential suitors. Once the firing gun goes off , and it will soon we will see what every body is after. It’s all about positioning now and whales are positioning and watching. Shorts will be very nervous but they are not going to openly state that. They will be looking for an ‘out’ but maximising profit and on their terms. This will not be possible imo. I think events will take over. So much consolidation has occurred around this level it’s a matter of time till it pops imo.
I’m back and the clock is ticking. The shorts want a controlled exit. I don’t think there’s enough stock available to facilitate that. Another interesting day in store. News could drop any time here. A corporate transaction is coming. What it looks like is the question but I think a highly material change of ownership will play out. That’s a given.