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If they were fighting for survival they would have had to update the market about that too.

Hi Buster,

Just be aware that shorters are holding this back, it could be the re-trace this morning is some manipulation whilst they try and close as low as possible before it starts to take off.

I have a lot of confidence in this share and believe holders will be rewarded.

This is crazy, they've won a contract which alone is almost this companies entire market cap.

Shows how undervalued PFC is.

I can't think of any other explanation, that will also confirm why the shorters are so desperate to find an exit before this trebles in value or more

Please note, I'm joking before anyone takes my suggestion literally. In all seriousness though, PFC would have had to warn the market if it was for negative reasons.

Sorry after today's RNS, it's now not 3 weeks. It seems like the results aren't until April.

Almost every time the chatter picks up from the kind souls who visit different boards to warn everyone about a share that they have no personal interest in, within a short space of time that same share has a nice rise.

I've fallen for it before, don't let them get to you. The results are 3 weeks away and after the last set of results this share was over 50% higher than it is now.

These are from John Roberts from the Covid-19 Actuaries Response Group on the rate of vaccination. He says at the current rate of progress the government could ensure everyone in the first nine vaccine priority groups (all over-50s, health and social care workers and people with serious underlying health conditions) could get their first dose by 8 April.

That makes sense, although they've already confirmed vaccines work against it so it seems an overreaction. This will keep happening as new variants move around. Look at all the countries now finding the UK variant for example.

This seemed to want to pushed higher today, but has dropped all the way back.

This seems like good value at this point now the UK is well on the way to vaccinating all over 70s.

Any thoughts on why there was a pull back?

That's a good point. If the shorters are greedy, but the stock wants to rise then they should buy to cover their short but also buy some for themselves. That way they can enjoy the ride up like the rest of us, rather than constantly trying to drag a good stock down.

The headline on Bloomberg is that the rally that was halted yesterday is back because some trading platforms have lifted their bans.

They are suggesting that because of concerns around it happening elsewhere funds will continue to reduce their short positions in case they're next.

Hopefully that applies to Petrofac which made the headlines on Wednesday for this very reason.

I'd imagine the risk is double for them here because the results are less than a month away which often leads to a rise in the lead up and on the half year results these rallied to about 190 and that was at the height of the pandemic without vaccine hopes.

Surely it's only certain funds that are short, I imagine the more reputable ones don't and would certainly hope those protecting people's pensions. I actually read an article that one fund held about 10% of GameStop so they've done pretty well out of the recent activity

Thanks Paddy. This reminds me of NEX at 115. That was a good stock being beaten down by the pandemic, if anything Petrofac is better placed than that was with the vaccine news yet it's actually trading below the pre-vaccine levels.

Surely the results will trigger more buys as it should be a much brighter outlook and the lead up to those will likely put further pressures on shorts to close before this gets pumped up even higher. I'm quite excited about it.

I bought into this share prior to the recent excitement created by targeting the shorters because it seemed hugely undervalued and still does. I wonder if this has drawn the attention of more investors who will look at the fundamentals and realise this is one of the stock market bargains right now.

Barclays valued it at 330 after the half year results, full year results are due in February and Petrofac are continuing to win new deals and have a strong order book. Many stocks I've held ended up rising in the run up to their results, I really hope people stick around for the ride back up on this one. If they do and shorters continue to close then this could be a very pleasant few weeks for us all.

Good luck.

No posts showing since the US opened

I just wondered what the costs are likely to be to the shorters for this drop? If the buying pressure maintains, surely they won't be able to sustain this low level for long.

Does anyone know if such a dramatic switch is costly?

It could also be shorters using sells to try and spook people into selling and hold the price down. I'd be surprised if people are taking profit just yet with the way things are in the US and all the chatter around this

The funny thing with Petrofac is that even at 200% or even 300% up on the current price it wouldn't be considered unfair for the fundamentals of Petrofac. Reddit is targeting companies that are close to bankruptcy and so there isn't any underlying support from a sound business should you get caught out at the top.

Petrofac feels a much healthier choose to me imho.

Speak for yourself, they were just me having a small top up.

In all seriousness, that makes a lot of sense and your input is really useful. Thank you

Well it's dropped back as you foretold, let's hope it's now on the way up