Shorts - couldn't be nakedThis likely doesn't make much of a difference to holders of LEG now that they've been sold off with the rest of the market but I (and a few others including mgmt) have said it a few times, the shorts on LEG aren't true naked shorts and must be part of a synthetic trade of some sort (of which I won't begin to think I understand).
Some of you may have noticed some huge volume on Dec 30, 2014 at closing (15.4m shares traded in the last hour). It doesn't show up on data driven from the TSX because it was done on the Chi-X exchange and was a series of crosses by TD. The new short report shows a reduction of 15m shares short from 30m to 15m for the periods between Dec 15 and Dec 30. There's no way a true naked short could have got out of a short that large in a few minutes of trading without driviing up the price.
I don't know what it means but I definitely think people were focusing way too much on the short shares outstanding for a number of years. I don't think it impacted the share price like many posters said/thought it did. I would say that the current level of shorts (15m or 8%) is what the true short position is/has been.
Anyway, just wanted to point that trade out. Opinions??