RE:RE:Shorts have doubled down = Cation at it again
Cardboard
Surprisingly, a short strategy over the past 6 months (since Cation entered the market), shows interesting results. November & January = profit, February & March = flat, December & April = loss.
I have done a quick analysis of the short impact on other oilco's (with approx. $5B market value) and integrated their SP recovery factors from their 2014 highs. CPG is up 5% and the peers are up 15% on average. This rough calculation would suggest that the increased short volume has depressed CPG's SP by $3-4.
Bottom line - a short squeeze after Cation's motion is defeated at the AGM and the SP 'pops' $3??
I agree, 0.3% = 1.6 million shares = $16million = not significant in the big picture. And, you do have a good point. Rolling shorts over the past 6 months would be profit neutral if they were at the top of their game, which I doubt. So, Cation better be having fun because their payoff may not justify their strategy.
And, don't forget that where there is one snake, there are many more hiding in the dark.