GREY:XEBEQ - Post by User
Comment by
tamaracktopon Jul 17, 2020 11:55am
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Post# 31281547
RE:short position
RE:short positionExactly! Which is significant for a very simple reason. It means there remain 1.4 million naked shorts. Period. Anyone who sold short to cover with the new offering has already done so. There is zero benefit not covering the short immediately, as they had established their profit the moment they sold. Waiting to cover has zero influence on their ultimate return and in fact reduces it, as they still have to pay interest on the margin debt to maintain the position. In other words, there are definitely 1.4 million shares short that will need to be covered at some point. DTC is the abbreviation for Days to Cover.. With the meagre volumes of late, the DTC would be unusually high for Xebec shorts. Maybe 4 or 5 days. I wouldn't want to be in their shoes. I'd be quite worried actually.