Post by
Obscure1 on Mar 02, 2022 11:53pm
76 million shares short against SU
SU can buy up to 25% of the average daily volume under its issuer bid. That means SU should be able to buy about 2.5 million shares per day as opposed to the 350,000 or so that they have been buying.
SU can also buy up to 2% of the float or about 28 million shares in a month.
There were 76 million SU shares shorted at the end of February.
Maybe it's time for SU to get more aggressive with its share buyback plan while the pros are deliberately suppressing the share price. Of course SU wants to take advantage of the artificially low share price for its buyback program, but it has to be embarassing for the company to know that SU's SHORT position is almost double the value of the second most shorted company (RBC) on the TSX as per: https://shortdata.ca/largest-short-positions
Comment by
firstworld on Mar 03, 2022 12:14am
SU need to repay the $B + in COVID welfare it defrauded from govt and handle the $300 B clean up liability first LOL.
Comment by
NewfNewf on Mar 03, 2022 12:16am
Interesting that the shorts have blown their load and the price keeps going up. They must have been covering some of their shorts at a lost over the past couple of days. Oil prices will continue to rise so hopefully they are having a few restless nights.
Comment by
Vlosun on Mar 03, 2022 9:39am
Is it possible that the date was may 2021?
Comment by
Obscure1 on Mar 03, 2022 11:14am
The two week change was 29 million. The total short position was 76 million
Comment by
Obscure1 on Mar 03, 2022 11:21am
Actually, the net change for the two week period was closer to 26 million shares The info is available here: https://shortdata.ca/largest-short-positions