A lot wrong with this post, but this stock has had close to 10% float shorted before, and is still drastically above prices at those points in time. They also included media campaigns. For every shorter there are significantly more longs in this industry, most institutional investors maintained high price targets on CTD and didn't change their beliefs on fundamentals. Are the ONLY sensible institutional investors those that short? This is just plain silly, and this stock proves it because A SHITE TON have been burned, if you look at the numbers drastically more has been lost in short selling this stock over the years than VGI have made on their short. Over ten times the amount in fact.
It's not a matter of "helping" anyone, its a matter of whether they misled the market based on false claims to manipulate the share price. We know that they deliberately tried to manipulate the share price and intended to greatly profit, beyond that its a question of accuracy in claims. Various institutional investors have directly responded in this incident suggesting they were false. Maurice Blackburn wouldn't be musing in the media about plans for an Australian first class action against VGI if there was nothing there.
I agree its good to be cautious at times like this, but the "shorters always right" or "where there's smoke there's fire" is just dumb. One could just as easily apply the smoke issue to market manipulation on behalf of VGI considering how strongly CTM came out against the allegations, as was suggested to be the case also by various institutional investors.
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Last
$14.31 |
Change
0.320(2.29%) |
Mkt cap ! $1.780B |
Open | High | Low | Value | Volume |
$14.00 | $14.36 | $13.95 | $7.306M | 514.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 50 | $14.28 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$14.32 | 827 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2063 | 11.420 |
4 | 5973 | 11.370 |
1 | 3403 | 11.360 |
1 | 8625 | 11.350 |
2 | 5258 | 11.340 |
Price($) | Vol. | No. |
---|---|---|
11.430 | 809 | 1 |
11.450 | 186 | 1 |
11.460 | 1972 | 4 |
11.470 | 3403 | 1 |
11.480 | 3403 | 1 |
Last trade - 16.10pm 28/11/2024 (20 minute delay) ? |
CTD (ASX) Chart |