There were a whole bunch of stock borrowing clients of Opes possibly issued with notices to return the stock pronto after the bank takeover late last week. AEZ has probably been heavily shorted, after Centro , Allco etc. So how much was buying back to cover short positions ASAP? As a long holder, anything which knocks the short sellers out of the market is OK by me, but hey, I do want to buy some more before they go up! Should I sell to a shorter trying to cover on monday? Will they be dumped back on the market by the Opes receiver? Depends perhaps if they were shares borrowed from custodians and lent on, or stock held in margin clients holdings. My guess is that it will be a mix with more being bought than sold but time will tell. The director buying lately has a lot of confidence. In guessing he is right, but not with a big % of portfolio. 5% max.
AEZ Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held