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On the last refinancing deal i believe the directors did buy in. In some ways it feels very convenient the directors all have the opportunity to buy in at record lows before the expected big contracts in the pipeline. Maybe im too cynical but would be great sign for all holders
I agree Bayobach that i don't expect a huge shift tomorrow and it helps the shorts to try and project terminal decline in this share. For anyone who is under the illusion this share is in terminal decline i would look at the link provided by Bayobach. The shorts played exactly the same game back in 2021 when again petrofac were refinancing. When i say exactly the same they literally had the same volume of shares out on loan. The bounce back was huge! good luck all
I don't think the shorts know anything we don't. The refinancing isnt going to happen immediately, its going to take time and negotiations and the shorts will play on that. the only question is when they pull out. For me this is now a long-term investment and i will continue to accumulate
Does anybody know if the shorts increased yesterday?
Https://www.upstreamonline.com/finance/how-petrofac-aims-to-address-its-cash-crunch-and-restore-investor-and-banker-confidence/2-1-1570104
thanks whoever posted the original link to this article earlier. If we get some positive news on the 20th any short position will be destroyed. Some really promising options in that article that could be game changing for Petrofac.
My own opinion is that we are going to see further significant movement upwards tomorrow. At least one firm shorting this stock tends to jump out on a friday going by previous patterns, and with the 20th so close they will need to be suicidal to jump back in again on monday. That being said, if they do on monday try and bring the price down for one final attack i will be looking to make further buys.
I disagree. there's a bunch of cling-on shorts following the main player and they are most certainly likely to get burnt with greed. If this share moves at the rate after the Tennet deal I suspect a fair few of the trolls will disappear with their tail between their legs. At the moment the odds at this price are much more likely to shoot up then drop further and increasing by the day
Im increasing my holding, no chance of selling. My target price is £1.25. Currently just above a 40p average. If any idiot trying to short this share thinks Im going to give up that kind of profit they must be smoking something
The crazy thing with this share though Pokerchips is where do you place fair value? What other company currently has a market cap of £180 million and billions in contracts waiting to be executed? I think next year is going to be a wild ride up but my opinion and my capital im risking on this.
I agree larger companies will build up hedges, and I believe thats their game plan here, but I'm pretty certain some of the smaller shorts cling-ons will get burnt, mentioning no names!
Thank you Dark Knight. I previously saw the article where petrofac have boosted the workforce by 3000 plus. reaffirms my position. I feel a lot more comfortable buying at this level then I would shorting it.