RE:RE:RE:RE:RE:RE:RE:RE:Silver lining what your saying doesn't make sense to me.
shorting requires borrowing shares - which has a cost involved. They can just sell their own shares.
to short at 20 - (for instance) - and cover using shares they own at ACB of .41 for instance - they would register a loss.
If they sell at 20c and buy back at 17 - then sure. But it doesn't look like that happened. It just looks like they sold some shares. And on nov 11 when they sold 700k shares - we were at .135/.14 cents.
and .... we haven't been lower since? So impossible that they made any money on that trade in any scenario.
Unless they sold to get another fund involved - so they can get some money on the table to bring this up and gain some liquidity.
brentkostaa wrote: Still think MMCAP isnt shorting? Seems likey they are derisking and liquidating their equity as they make from the short side.
In my opinion they are shorting this and offsetting their equity losses. THis is a win for them as they liquidate at break even, leaving the coupon as their cash cow. Eventually MM will own zero equity, and only debs and have their original investment totally recouped thanks for profits on the short side.
johnale wrote: Ya lots of possible reasons, we'll never know.
ON second look - they probably aren't subject to insider blackouts, as they sold November 11 and earnings were released nov 16.
there has been a ton of volume lately, and maybe they took the opportunity to trade, take some off the table, and maybe get another fund involved. tax loss selling has some financial implications as well.
All told if equity passes 45 - MM would end up with 175+mil shares - so I get it. (Even after the 12.65 sold)
At least .... the selling co-incided with a pop during the period and 108million shares++ traded.