Unsure if most folks follow US markets - I certainly do.
Yesterday, a whistle-blower (Bernie Madoff case winner- not sure if many remember Bernie) claimed GE books have been cooked resulting in sharp plunge in a single session.
BOD have fired back since and SP is nicely up today, just goes to show you either have to trust the company and invest/trade or if you don't have any faith to begin with then why gamble with your hard earned money??? DYOR
Ironically, we have another vulture who allegedly had some discomfort with Burford's market cap "last year". Had a tiny short imo (less than 0.50%) and now thinks he can cash in by selling negativity potion to the market.
And ofcourse Jackals (press for sale) are there to do their dirty work by posting/printing rubbish. They are not doing any service to anyone except their greedy financiers and themselves by pocketing ill-gotten gains!!!
Both these groups have no shame at all and will publish blatant lies to accomplish their goals at others expense.
Bottom line is they might be able to shake the price in first few hours on Monday and then get the f*** out of it forever.
To me, Monday will be a buying opportunity for sure (knowing market how it plays).... but i would suggest everyone take a deep breadth and look beyond next few days/weeks. The way MW has played it is just the evidence of how short sighted these shooters are....
They claim to have carried out these so called research papers that claim insolvency and other rubbish when in reality these guys don't even believe in what they say.... enough said.. onwards and upwards
Hereshopin - you are one lucky man in all honesty.... unfortunately got caught out on this one.... wrong time wrong place but still think company is good in what it does.... MW have tendency to spread rumours and create panic with selected wording... have seen similar stuff on many US shares so know from experience.... they are only interested in making a quick buck like rest of us but only by playing it the other way.
Been a very volatile day..... years worth of gains wiped away in a day... i have seen MW report similar rubbish on iqe.. was a holder in iqe at that point and they were just in for a quick buck and subsequently left shortly after pocketing the gains by wrecking havoc.
The company will and should defend itself vigorously, i would suggest taking them to court if the facts have been misrepresented to benefit from other people's loss!!!