BET Shorting

[Lattelarry]

With now nearly 120M shorts it feels like they are digging themselves deeper. Every time it gets above $0.70 they start hammering it back down to below $0.60 but don't seem to then cover and don't seem to be able to push it much further either. Not sure whats the point if you don't take some profits when its down at this level.

 

[Lattelarry]

I think the plan is to frustrate retail till they cant hold any longer……….you can see sentiment on HC turning sour even amongst the previously happy long termers.

Yep agree and then also spread in a few disingenuous posts and you might just get them to sell.

 

[Lattelarry]

OK lets see where we are up to with these shorters……..big question is, Will Macquarie just payout TW instead of returning the shorts? This would make Macquarie a longterm holder effectively.

With FO imminent and maybe a softening of US Macros, Ukraine & Russia settling down as well as everyone getting ’comfortable’ with the idea of living in a COVID society…..well we may just have a rebound in share price.

Just remember their is nothing wrong with the fundamentals of BetMakers.

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Macquarie will make out like bandits if they pay him out. Borrow 100M shares. Push the price down 50% then payout without having to buy back on market.
TW will have only made a relatively tiny amount from the loan. He would have made a huge amount more if he had kept the shares until now waiting for FO then gone and spoken to various institutions about doing a wholesale trade.

 

[Just Westy]

OK lets see where we are up to with these shorters……..big question is, Will Macquarie just payout TW instead of returning the shorts? This would make Macquarie a longterm holder effectively.

With FO imminent and maybe a softening of US Macros, Ukraine & Russia settling down as well as everyone getting ’comfortable’ with the idea of living in a COVID society…..well we may just have a rebound in share price.

Just remember their is nothing wrong with the fundamentals of BetMakers.

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Looks like diminishing returns for them now given the big effort on the 3/5 and the closing price today.

Expecting another 604 tomorrow as well.

 

[Cameron]

NOT BET RELATED BUT I SEEN THIS THOUGHT IT WAS INTERESTING https://investorplace.com/hypergrow...t-a-recession-prepare-for-a-20-rally-instead/

 

[Upthedons]

$5M volume on Monday and they (shorters) were responsible for over 40% of it.
Will they just continue to double down? What is the end game? A huge capitulation event?

I think considering 123 million shorted shares have entered the market the last year we have held up ok. I hate these snakes so much, please let there be a day of judgement in the next 6 months when you go back to a price which fundamentally represents the strong future this company has.

 

[Lattelarry]

This is how much they borrowed on the 3/5

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Just remember they are future buyers. Would love to know how they think this is going to work and how low they think they can drive it. Agree with upthedons, we have held up really well. Probably much better than MQG expected which is why they are having to borrow more.
I've always found over time I've benefited a lot from the shorts because I now have an average way lower than I thought I would.
I keep a main parcel and a trading parcel and the main parcel I expect to keep for minimum 2 years. But I have a feeling BET could well be paying divies by then and if that's the case I'll hold even longer.

 

[Lattelarry]

Another 1.9M shares shorted on Friday. Really seems like MCQ has a fixation with BET. I wonder if it's just that they could borrow so many shares or if there is some other reason. Quite strange though.

 

[Just Westy]

Looks like TW wanted 14+M shares back from Macquarie

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Another couple of these would be nice.

 

[Lattelarry]

Looks like TW wanted 14+M shares back from Macquarie

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A minor decrease. I wonder if Tom wanted them back or if they returned them. It sure doesn't look like they have bought any on market.

 

[Lattelarry]

Karma:

 

[comin2getme]

Karma:
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Is mac bank planning to be a long term holder? If they are, after this shit storm things SP wise could go well

 

[Ibetfixed]

Is mac bank planning to be a long term holder? If they are, after this shit storm things SP wise could go well

Just a quick question ..Anyone got a handle on the rough amount of shares that are shorted …excluding the shares MQG are shorting ?? Because if MQG have done a deal with TW whereby they don’t have to buy them back on market .. then the balance of shares shorted is the interesting number . Cheers

 

[billyidol]

Just a quick question ..Anyone got a handle on the rough amount of shares that are shorted …excluding the shares MQG are shorting ?? Because if MQG have done a deal with TW whereby they don’t have to buy them back on market .. then the balance of shares shorted is the interesting number . Cheers

From https://www.asx.com.au/data/shortsell.txt , I'm getting this (as of today, 10 May) and I'm confused.

ASX Code	Company Name	Product / Class	Reported Gross Short Sales (a) as ASX + Chi-X	Issued Capital (b)	% of issued capital reported as short sold (a) / (b)
BET	BETMAKERS TECHNOLOGY GROUP LTD	FPO	699,467	903,460,347	.07

The answer being (7% ?!) versus Shortman, which is almost double this.

My rationale...personally, I don't believe this figure above when the daily trading volumes have been:

6.7m on 4 May (Shorts at 13.87% according to screenshot below, taken today)
3.0m on 5 May
7.0m on 6 May
4.5m on 9 May
6.2m on 10 May as of 1520 EST (shorts now at 7%, according to the ASX link above... ?)

(Sum of these days = 27.4m including 4 May). All above data from ASX website and https://www2.asx.com.au/markets/company/bet

So, why does https://www.shortman.com.au/stock?q=BET (below screen grab, taken just now) show 125,269,017 shares shorted on 4 May 2022, which makes 124,569,550 shares to account for somewhere (125,269,017 - 699,467) between 4 May and 10 May ? These 124m are being shorted according to this chart, whereas reported shorts from the ASX (699,467) are 5.61% of this number ?

To me, the shares (on issue, may I add) are either shorted, or they're not - you can't "hide them off market somewhere" - unless I'm being naive. It's not like an option or a futures contract where you can make things up with smoke, mirrors and hocus-pocus and you're either "in the money" and you exercise it, or you're not (in which case, your option expires and/or becomes worthless).

Between 2 May and 9 May, the closing price was $0.49 to $0.50. If these shorts really had been closed out as the figures above lead me to believe, I think you would have seen significantly more difference in the closing price ?

Date​	Open ​	High​	Low​	Close​
4 May​	$0.55​	$0.56​	$0.52​	$0.525​
5 May​	$0.55​	$0.555​	$0.53​	$0.54​
6 May​	$0.515​	$0.515​	$0.485​	$0.49​
9 May​	$0.49​	$0.50​	$0.46​	$0.46​
10 May​	$0.44​	$0.505​	$0.44​	$0.495​

My thinking is "It must have gone somewhere" because this is a zero sum game. Every seller needs a buyer and vice versa. But the volumes have been under 10m per day since 27 April, and the approximate 28m spike of 21 April (when we had the announcement and the expected sell-off by Matt Davey) but the volumes involved since 4 May, the trading range and the weight of money (or lack of) doesn't account for any of this.

Somebody please correct (and follow) my maths if I'm wrong (and I will happily wear it) because I can't see how I've made an honest mistake in what seems to me, to be straightforward logic, using publicly available data from the ASX (no secret sauce here)...I really do want to understand this conundrum, as we all do - what is the REAL picture of the shorts and whose numbers do I believe ?

(Edit: I checked against 61Financial and they too are showing the same)

 

[timtheowl]

I wonder if someone can help me understand?

So if MQG have increased their holding and voting power how would this be possible if they are shorting. I thought the short seller was only borrowing the shares and hence wouldn't get voting rights etc?

Or is the assumption being made that they own them and are using a Mac Group subsidiary to short them?

Sorry if this is obvious but from what I understand this would suggest they are not the short seller.

Cheers,

 

[Upthedons]

Anyone else think that this is a reporting error?????………I think they added instead of subtracting the Macquarie return to borrower amount….Thoughts???


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Had to be an error mate, 25 million is 19 million above daily volume. Unless it can be done over the counter somehow it must be an error.

What a nightmare we are going through on a macro level, let’s hope we can soldier on in the next year with some good macro factors and no shorting fwits and see how far we can go.

 

[Lattelarry]

It does look strange……….the whole world is a shit show at the moment……….It’s best to take a breath, calm the emotions and focus on the long term and accept the swings and roundabouts………….I have a saying ‘Fuck the world, let it go round, cant stop it anyway”

My theory before this was that Macquarie had finished shorting and had returned the shares they had borrowed but not sold. Guess we will need to wait a few days and see if this is real or an error.

 

[Lattelarry]

Funny how Todd said there isn't much they can do about the shorting. They need to take a look at PNV (my other big investment) where the chairman bought a million shares on market a week ago and every day since he has bought between 250-500k. Also 2 other directors have also topped up and I'm pretty sure we are shortly going to get a huge squeeze.
Would love to see BET's board show similar confidence and start buying up big at these levels. Or alternatively announce a buy back.

 

[Just Westy]

That is impressive by management of PNV!!

Announcing a share buyback would fire up the SP but I doubt that would happen whilst the company is still in a growth stage.

 

[Lattelarry]

Announcing a share buyback would fire up the SP but I doubt that would happen whilst the company is still in a growth stage.

Yes I doubt it too