This spat started when I posted that the recent trend in MRM share price was similar to that last year from July to early November; before the trading update (shocker!) and the shorters smashed the price again. My opinion is that the next result will be a shocker (much worse than indicated in the trading update) and the shorters are still there. Remember that they could have closed out their positions in the low 20's a few weeks ago. The fact that they stayed in means they believe they can wreak more price havoc that a $0.23 share price. I believe that.
Everybody seems to think I have an agenda; sour grapes after my own (significant) losses in MRM...I just recognised a pattern and posted it!
My position is that, if MRM survives, it will be worth more than $2! Without Jaya I have no doubt MRM survives; Jaya is a millstone; there has not been a single positive announcement about any business it has retained, much less won! MRM bought Jaya 27 ships. At the time of the AGM 8 of them were parked up. How much action do you think the Batam and Singapore shipyards are seeing?
MRM Price at posting:
30.0¢ Sentiment: Sell Disclosure: Not Held