Bashers7 Nov 2023 08:40
Some years ago I bought a micro cap stock which had a market value sub £3m, it was rarely traded and very much under radar, apart from the odd bullish poster the respective bulletin board was full of bashers, it was not possible to say a good word on the thread without it being drowned out by the bashers instantly.
As the thread was old and outdated I set up a new discussion forum, this was not liked by the bashers as it was possible to ban multi alias accounts and so on. On the new bulletin board I added a flag and hit counter making it easy to establish where posts where coming from, basically as soon as a post was made you could see the location.
As time progressed the bashers migrated to the new bulletin board, there were at least 10 accounts, the share price had fallen from 30p to around 2.5p on very low volume yet they persisted 24/7 (just like here)
To my amazement nearly all of the bashing posts came from the Philippines or Vietnam, I later discovered there were betting syndicates operating on micro cap stocks listed in the UK from Far East locations.
The interesting aspect was the company issued news that astonished everyone, the bashers were were expecting a placing to close their short positions, it did not happen however the company secured non dilutive funding from a third party at a premium. The share price rocketed from 2p to 14p in 2 trading sessions as the short positions struggled to close in a panic stricken mode, soon after all the bashers vanished to never return.
The moral of the story is bashers are here for economic reasons, they are not innocent bored individuals with a grudge, they could be working for boiler room syndicates or in a shorting group, they target illiquid companies where share prices can be easily manipulated (like CNSL)
As proven above shorts are greedy and unwilling to close to take profits, this is where they come unstuck, their losses can be unlimited, CNSL seems to be a classic clone of the above, that is why I have been buying aggressively.
DYOR etc
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