Reconnaissance Energy (Africa) Ltd V.RECO

Todays Selling is Anson Funds

[Jaimiemcmurphy]

I have it on good authority that the majority of the selling today is Anson Funds.

They somehow secured a borrow of 3 million more shares and are piling into the stock today in an effort to scare retail investors out of their positions.

This is pretty much the last straw for them and they know it.

Do not be sucked into their game.

[NFKRS17]

If that is true, they are so screwed. To cover 3 million shares, you would need about 5x that many shares to trade in the market (assuming you can even manage to buy at 20% of volume).  So if they are  Year to date, RECO has traded about 1.7 million shares/day.  So they are looking at trying to cover 3 million shares into a rising market over 9 long and miserable trading days.

[Bpultra]

I think this short sellng story/excuse is well over done.. all rumors IMO  ===========

[Matteo1234]

WEak hands getting flushed. Viceroy spreading fear. Stayhard

[Chas15]

Profit taking is going to happen over the next little while, as short term catalysts seem to be minimal. Canadian OP's have around the same upside at these oil prices without the risk....it's a no brainer I think. Maybe 10x on this, time to move some into other plays. Leaving some just incase. 

[Matteo1234]

Where's the bigboys making offers.? Need traction. Lots of weak hands. Going to get ugly.Stayhard

[NFKRS17]

This is from Bloomberg which has consistently reported that the cost to borrow RECO shares is sky high.  So not rumors...very real.

[Matteo1234]

Give me 15% interest and you can borrow mine

[Zoolanders21]

Warrants are up to $4.49 now!! I really like the warrant play on RECO. You basically get them for half the stock price so if it is a bust lowers your loss but on the upside if it takes off the returns are exponential. And they are good until 2024! JMO