Short?! So i've been thinking about the ~8M shares short position... it's not why i bought SNC because i'm into fundamental value investing, but have you seen what's happened with GameStop GME and now BlackBerry BB ? Both were suppressed by large short positions, given that they were largely perceived as losers/has-been. Yet, they were not bad business and a group of investors decided to buy, buy, buy shares until the large shorts cry Uncle! I.e. cause a short squeeze. Once the short positions gets so large, the danger is that it's hard to find available shares to cover. In fact if none is for sale you can create a so-called Infinity short squeeze (google-it), first observed with VW and maybe behind the Tesla run too.
Can it happen with SNC ?
8M shares at $23 is 184M$ on a marketcap of ~4000M$, so its about 5% of the float, but we know that a large portion of the outstanding shares are into strong hands, like Jarislowsky and Gabriel. It could become a challenge and a race to get shares!
It adds a bit of excitement but it's not a must since we sit on a solid co valued at 50% of comparables. Either we get there fast, or slowly but surely as mom says!