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They control the SP by increasing their short position but they have to at some point buy the shares they’ve borrowed. Which in turn will drive the SP up. Which is their game plan. Note: it’s currently 55 million shares on loan, that’s a considerable number

Indeed Johnny

They are just shy of 10% and must clear out, that’s roughly 55 million shares to buy back. Ouch!

Johnnychainlocker

I agree, they couldn’t clear out without causing a considerable surge in the SP and keeping a lid on it by increasing their shorts is probably the only way to limit their losses. But that’s a dangerous strategy, the company is actively and very publicly involved in raising funds to support their enormous intake of contracts. If they provide more good news then the lid will be blown sky high. There aren’t many people out there that think the current Mcap is an accurate valuation of the company.

So, for now the games continue but favor is with the bulls IMHO

I’m struggling to fathom why the shorts are increasing, why they didn’t take profits after the companies clear message on the 4th December, they then wait and work the SP back down, they created another opportunity and failed.

The trading update gave a clear picture of where the business is heading.

They aren’t adding to a loss in the hope that the SP can be worked back down. The BS that was being copied and pasted by the paid derampers has been proved wrong. The business isn’t going bust, Infact quite the opposite.

Mcap is beyond crazy low. The only reasons I can fathom:

1, they’re not very good and desperately throwing the kitchen sink at it.

2, they’re being supported by a buyer who wants to buy the business cheap. If they can keep it low enough for long enough then a low bid may be more palatable.

Still scratching my head???

Harsh from me as it’s emotional

They played a blinder, I certainly didn’t think they could take us below 45p again. They knew a trading update was coming and failed to take their profits.

Interesting tactics

They increased again yesterday, explains why the SP stagnated after the raise.

They’re attempting to put an anchor on PFC. therefore probably planning to increase again when the buying subsides in an attempt to drag the SP back down again.

I’m getting fed up with these shorts.

They got it wrong on PFC and deserve to burn

Darren

Whilst charts may be useful for day trading, you’re missing the action here.

This company is at this level because it’s been under a short attack.

It has contract awards worth circa $8 billion manageable debt, some cash flow issues that are being resolved and a bright future.

Take a closer look at the business and you’ll see what a joke the current Mcap really is.

Onwards

That made me laugh, thanks for that!

I guess they’re all off the payroll, they’ve done their job, the shorts were too greedy, they had their chance and blew it.

Bonds up 14% this morning already.

$8billion backlog now

2024 turnaround nailed in.

Plenty more contracts in the pipeline.

Fitch rating agency have embarrassed themselves.

A long way to go for the shorts to clear their positions, question now is, do they collaborate an exit or will it be a case of save yourself and a panick (short squeeze)

Much much happier today

Merry Xmas all LTH and day traders

Note to day traders, if you must shave and nobody would blame you, let some profits roll or you’ll kick yourself

Helikon increased again yesterday, now 3.01% to buy back! Ouch!

Total declared short positions 9.61%

Be interesting to see after hrs trades

USA up 59% and https://www.marketwatch.com/investing/stock/pofcy

Can you imagine the conversations this morning?

“I need 90million shares quick” erm sorry pal I don’t have any because we’ve already sold toooooo many

Happy Christmas chaps

Well, it was a tough couple of months but WORTH IT,,,!!!!!!!

Phew

Cheshirelad

That would do nicely.

Https://www.marketwatch.com/investing/stock/pofcy

Https://www.boerse-frankfurt.de/bond/usg7052taf87-petrofac-ltd-9-75-21-26

Poker

And there I was thinking the markets are forward looking

My reasons were valid at the time

SFO finished

Diluting at 115p successfully accomplished

Tennet deal signed €6B

Algeria $1.5B

Reinstated in the UAE followed by $600m and $700m contract wins there.

Sponsorship for UAE nationals graduate scheme in Sharjah university.

Decommissioning work growth in Australia.

Why wouldn’t I think this business is recovering?

Poker

You are correct re: unprotected long

Lots of us expected the shorts to reduce approaching tomorrow, they e done the opposite. To clear out now with over 50 million declared borrowed shares would be an extremely difficult task. That’s without those shorts holding below 0.5%.

Looking at Friday’s short action, Astaris appear to have traded but with 0% change in holding. Is it possible that Astaris reduced on Friday morning causing the rise we all saw only to increase again in the afternoon and pull the SP back down again?

If they have that power alone then surely that’s market manipulation?

If we close flat today it’ll say a lot with regards to what the shorts are planning.

Still the II’s are holding firm and for that reason, so am I.

Banks have lost their appetite for the Oil and gas industry but not alternative fuels and that’s where this business is heading.

No more speculation from me. To late in the saga,

Genuinely good luck to all that are long here.

Helikon are throwing the kitchen sink at this which is surprising seeing as they’ve only been declared over 0.5% since November 6th. Nice earner for them from 48p but they’ve been increasing through much lower levels and at 2.85% if this turns, they stand to loose heavily!