News: CTD Corporate Travel Management Ltd Provides Response To A Second Report By VGI Partners, page-9

This is a wonderful example of the consequences of not having a bullet proof thesis before shorting on a mega scale. CTD management have handled this with maturity by not letting these people away with creating fear and shaking down retail investors. They have responded to each and every claim immediately and set a great example. We have the market due to rally 10%-15% as it does after US mid-terms, leading into the Santa rally. Market seems to siding with CTD, the price down $10 from where it should be and we have these massive shorts due to unwind (unless they double down!). My thesis is the downside risk is now very small compared with the upside potential. There may be some profit taking over the next few days, sure, but this looks like a good buy (and VG1 and excellent short).