The Long & The Short of It., page-2

The rest of the "proof" of the shorter's theory that something was seriously amiss was that the CFO was "running" so fast that he was not even going to hang around to exercise a number of outstanding options.

That was also entirely untrue, because the options concerned were already vested- in other words, non-forfeitable. Certain people in the the media and the short brigade got it badly wrong- again!

And the final clincher- that was supposed to be that, at the time (reporting season of FY16), the co-founders were selling out- supposedly because they knew the figures didn't add up. Revenue running ahead of cash receipts, rebating, etc, etc.

Now there, the media and shorters had a shred of truth in their otherwise totally fabricated story- the co-founders had sold a few shares, true, but they still collectively retained some 24 million shares! That's around 12% of he company and a massive amount of skin in the game. Anyway, any founder who has held a large amount of stock in a successful company for 16 years deserves the right to realise some gain.

So that was the short brigade's narrative- based on a fabric of lies and a half truth. But hey- if you can get away with it, then you can maybe rewrite the rule book- share market manipulation 101 made easy. Anyway, why let the truth get in the way of a good story?

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This post is based on my own research and is not investment advice. When making investment decisions, always DYOR6