Good research Kiwi. Obviously its not possible to short CCC. If...

Good research Kiwi. Obviously its not possible to short CCC. If it was CCC stock would have moved fast to its fair value, somewhere much closer to zero and traded only as an option on survival on the back of continued miracle capital raisings combined with a large rally in coal prices. For literally years now this has been one of the most straight forward shorts that you would ever see.

Leaving that aside, if someone was short CCC after falling so far, I personally would take their opinion very seriously. Due to its open ended downside and what I call negative convexity (you get shorter as the stock rises) shorting is a very dangerous game. It takes real conviction and for that reason those on the short side are usually very well researched. Of course they are not always right but I would respect their views myself.