GREY:LSTMF - Post by User
Comment by
JohnDDon Feb 09, 2014 1:51pm
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Post# 22189151
RE:RE:Short Position
RE:RE:Short Position
Herc, if I look at the short position during the year, it was sitting at around 1 million shares in May, 2013 - it steadily rose throughout the year to around 8 million in November, when Mr Wright and company provided their revised plans going forward, and cut the dividend in half.
The stock took a dive and some (~ 2 million) shorts but not all covered their positions. Excellent call by the shorts - Mr Wright and co delivered for them. The short position then dropped to a little over 5 million shares in Dec and has started creeping back up where it now sits at around 6 million shares. This in my view is a significant number and should not be ignored, I have learned to respect the shorts.
Herc, I have been in this stock for over 3 years and have a large long position - I would like nothing more than to see the stock rise. Unfortunately, Mr Wright and co have continued to dissappoint with weak execution in both the field and management of the balance sheet. That said, they have done some positive things and this weak share prices is in part about the sector and not entirely their fault.
That said, why have they not issued a statement on year end operations results - with your stock trading at multi year lows? I would suggest that more bad news is likely on the way in the form of weak 2013 operational results. I really hope you are right and I am wrong, but having been wrong on this one for 3 years, I am come to expect the worst from this company.
John