BET Shorting

[TeddyFiles]

Couple of green days and HC becomes a ghost town. They love a whinge over there.

 

[Ibetfixed]

Most of the people posting on HC are just paid be shorters to make everyone feel depressed

 

[TeddyFiles]

So we are roughly $1.5M shares away from being the Number 1 most shorted stock on the ASX…….next week, maybe as early as Monday but I think Wednesday.

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We may be very close. Feels like they fired some shots today. Must be one of those movie guns that never runs out of bullets

 

[Ibetfixed]

So we are roughly $1.5M shares away from being the Number 1 most shorted stock on the ASX…….next week, maybe as early as Monday but I think Wednesday.

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That’s about 130mill BET shares shorted .. I assume Trippy can’t lend his shares to shorters that are in escrow for the 2 year period ??

 

[Lattelarry]

Not sure I get why FLT is still so shorted either with travel going crazy. Seems to be a hangover from covid. So I could easily see their shorts reducing to leave us at no1 too.

 

[Lattelarry]

Hey Larry………you still travelling?

BET issued shares comes down to 934,593,666 next week and to take the No1 spot we need a 14.65% short on issued shares…..that equates to 136,917,972 shares……we are currently have 135,419,292 reported shorts………so we only need 1,498,680 more shorts and we will take the lead!!

After that we can celebrate and then all the shorters can ‘Phar Cough’ (sounds like a good name for a racehorse!!)

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No got back last week.
If you look at the 12 month graphs of shorts for FLT and BET it definitely looks like we will take no1 spot soon.

 

[Lattelarry]

Well I think we should celebrate…one day our share price graph might match our shorted graph!!!

Pretty sure we would be well over $1 if we had the standard level of shorts like 2%

I'm pretty sure today's number is a reporting error (PNV also has an error) but even with the error we maintain no2 spot!

 

[comin2getme]

The MQG derivative sales still eludes me.
Feb 2nd to Feb 14 - shorts increased from 60mil to 110mil... during that date period mac bank sold 60 million "derivative" units (see mac bank announcement 15 feb 2022, page 42 most derivative sales are listed) . Over that same time period I ESTIMATE (please someone clarify) about 40 million shares traded.
So, about 50 million shorts added. 40 million traded. 60 million derivatives sold... the point of all this is : Have the derivative sales been reported as Shorts, which blows out the reported short numbers!?. Knock 60mil shorts off and BET is barely in the top 20 shorted stonks... Or am I imagining things..

 

[comin2getme]

So…what are you thinking that MQG borrowed stock to short and then also sold Derivatives against those shorted shares to de-risk the borrowing?……..I have no idea how it all works, I am just trying to follow your train of thought.

Im not sure how it works.. my train of thought is for what ever reason those derivatives were sold - perhaps to make more money if thats possible, or Perhaps to make the BET shorting level appear high (or both reasons). Those derivates arent shares, they were sold for $0.00001... that 60mil amount fits in when with the huge jump in reported BET shares for that period.
The volume of stocks traded on the market doesn't allow for the increase in shorts.
I'm thinking the amount of real shares shorted might be 60mil less that listed currently....
How will they ever cover 130mil shares when ½ of the comp are long term holder's + a buy back... but 70milion seems more reasonable.

 

[comin2getme]

Im not sure how it works.. my train of thought is for what ever reason those derivatives were sold - perhaps to make more money if thats possible, or Perhaps to make the BET shorting level appear high (or both reasons). Those derivates arent shares, they were sold for $0.00001... that 60mil amount fits in when with the huge jump in reported BET shares for that period.
The volume of stocks traded on the market doesn't allow for the increase in shorts.
I'm thinking the amount of real shares shorted might be 60mil less that listed currently....
How will they ever cover 130mil shares when ½ of the comp are long term holder's + a buy back... but 70milion seems more reasonable.

Also, 2nd most shorted stonk at 14% incites fear, weak hands sell - no one new wants to buy. Shorters have and easier task. Maybe a fund is accumulating... ?

 

[comin2getme]

Ok…I have read that derivatives sold are based on an underlying asset and are usually used to spread/increase risk and reward…..They are usually between two parties……and I question whether MQG are doing it internally.

Sure, ive read similar things. My main point is the totals and the timing of short sales, derivatives, share sales volumes. Its really. REALLY hard to work out whats going on as an average punter.

 

[Ibetfixed]

Congrats everyone!!…….we’re No 1, we’re No 1, we are the champions my friends

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Woohoo .. great news .. no where to go now ..

 

[Lattelarry]

It feels like as soon as the is a small rise in the SP the shorts hammer it back down.
Hopefully some big numbers in the next year will attract some funds that can counter the shorts.
Would love to know how much lower they think they can push it since they aren't closing now which I would have thought would give them a very good profit.

If I win Powerball next week I'll give the shorts an expensive lesson

 

[Lattelarry]

Not a good sign for the shorters yesterday. Despite shorting nearly 1.7m shares the price still ran away from them.

 

[TeddyFiles]

Not a good sign for the shorters yesterday. Despite shorting nearly 1.7m shares the price still ran away from them.

Feels like they are having a crack today also.

 

[Lattelarry]

Feels like they are having a crack today also.

Definitely

 

[Lattelarry]

Yep shorts working overtime to stop the price rising.

 

[Lattelarry]

About to regain number 1 most shorted again. Buy back is way too small. 25% of the shorting won't help much.

 

[Upthedons]

About to regain number 1 most shorted again. Buy back is way too small. 25% of the shorting won't help much.

147 Million shares shorted now, 15.7%. With Tripps shares in escrow I can’t see how they have access to more than 5-10 M now. Have we reached the bottom?

 

[TeddyFiles]

147 Million shares shorted now, 15.7%. With Tripps shares in escrow I can’t see how they have access to more than 5-10 M now. Have we reached the bottom?

I hope so 🥹