RE: Sand grove shorting ?22 Nov 2017 09:26
Tobias, That makes no sense to me.
SG have a 6% long position. They might have taken a 0.5% short to hedge against further drop, that would make sense, but not to force the price down.
Given that there are very few able to sell at a profit today (almost no profit on warrant preselling or the chunky placement share tranches). And given that the science and funding are all but risk free. We're entering the zone where sells are either selling a 99% safe bet at a loss (possible for some with short time frame, but not many) or taking an insane risk on a short (possible if trying to force a level/sp prior to a turnaround event). As I mentioned before, I'm of the belief that the sp was pushed down and there will be an event/moment soon where the reason becomes apparent and then the sellers become strong buyers. My guess is the next week but I'm in no rush.
IG