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@itsawrap, I can accept that and a 50% profit is certainly not to be sniffed at and if you'd bought 85k@11 and sold @17p that's a fair few quid made (£5k?) in a trade over say 14 days - not sure when we were at 11p.
I suppose it's a different mindset you're suggesting to my own - trading rather than investing?
So we're chugging along at c17.75p (10:43 hrs) and then for some inexplicable reason someone sells c£14k - 85,000 @ 16.79 ((10:49 hrs) from nowhere.
So either someone is skint (know the feeling) or there's another, rather sinister reason behind that sell. Feels like price suppression to me.
It's great to hear that EBRD have extended their support. I suspect they know considerably more than us regular shareholders but they shouldn't be the case should it. Perhaps we'll get official news from the BOD at some point.
I'd suggest that the company continues to buy shares, however the lack of news or updates on material operating progress is frankly poor to ridiculous. How can a company expect to instill shareholder confidence or growth when the BOD does not inform those investors?
Extract:
You might think an additional 585,409 shares shorted sounds like a small number of shares shorted since Herbalife has over 100 million shares outstanding. However, when you realize that there was only actually 11 trading days during that time period, and when you also understand that the shorts used computerized selling and buying of shares at opportune times to manipulate the share price, you should understand why they were able to control Herbalife's share price during that time period, to stop the upward share price momentum, and then to drive the share price slightly down.
How it works
This process can be used by hedge funds to either pump up a stock or to trash a stock but since I am using Herbalife as an example, we will discuss that situation. First information is widely distributed to make investors wonder about the company and to put fear into those longs that hold the stock. Next, high volume shorting takes place to drive the company's share price down.
As the short attack continues, more people parade out news to continue to put questions in the back of investors' minds. On a daily basis, shorts use computerized trading to control the direction of the share price. At opportune times, the shorts overwhelm the buyers (bid price) of the stock by selling short large number of shares to drive the share price down and to eliminate the buyers for the stock at that given time. For people who are not familiar with the bid/ask process of trading stocks, here is a link to explain that process.........
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So given the above, my query would be - as there isn't any bad news, it's all gravy atm, how do the shorts install said doubt. I'm confident that for many of us , GGP has simply cemented our views on exponential growth (?).
Further and an additional interpretation from the article, if nobody sells into the 'short attack', does it not follow that they'll simply have to cover their position with ever-increasing price purchases?
@Hydrogen would you mind reposting that link to the shorting article. Having read it twice, I'm still trying to understand the mechanics of rise suppression with the short environment. It's dastardly clever and I'd like those more knowledgeable than me to firstly have access to the article and perhaps, secondly, offer their own insights. For clarity, I'm holding my shares until at least £1 so their machinations hold not significant relevance to my position, I'm just interested to understand. Cheers.