BET Shorting

[Lattelarry]

I've been loading up on some Lithium stocks going cheap the past couple of days but will grab more BET if it gets down in the 30's next week.
People are getting spooked and booking up losses whilst others are taking profits least they lose.
I can be patient with my current holdings.

Yeah I'll think about adding more at mid 30s.

Given shorters are still adding I think their target has to be possibly in the 20s.

But the big variable coming in a month (hopefully) is a trading update for FY22.

 

[Cameron]

Centrawealth has it fair value at 27c don't back up the truck yet guys just dabble

 

[Lattelarry]

Centrawealth has it fair value at 27c don't back up the truck yet guys just dabble

Be interesting to know how they get that given there are 125M shorts.

If you take the 100M in the bank out it would be a MC of around $140M which seems pretty ridiculous given BetR alone will bring in up to $30M a year.

 

[Lattelarry]

I think TW got the rest of his shorts back yesterday…..based on the volume and the reported shorts for the 14th June………might see a change in holding from MCQ soon…….thoughts anyone?

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I thought he will had like 100M lent or something very high?

I'll be interested to see how many were closed yesterday. It was the perfect day for them to close some. High volume and smashed price.

I thought the number sold short yesterday was going to be over 1M so they didn't short very hard and may well have been buying.

 

[Lattelarry]

TW only lent out ~43M shares to MCQ……..MCQ also had their own shares and control of others under their management.

We have other shorters out there and I believe Perennial Value Management have been playing the shorting game as well.

Yeah given all the announcements from PVM it looks like they have.
Perhaps MCQ have swapped Tom's with someone else's - as of now we aren't seeing any drop in the shorts. But yesterday would have been a great day for them to cover some.

 

[Lattelarry]

Shorts are doing a great job in covering from the paper hands without letting the SP rise. Seems the current weakness is due to investors selling. Hopefully within a couple of months shorts will have reduced a lot - thats one silver lining anyway to the current SP.

 

[Lattelarry]

It will be interesting to see the shorts today. I BET they've been working like crazy to keep the price from rising anymore. It's definitely a losing game now that 81M shares will be removed.

Also we're back to no3

 

[Lattelarry]

Looks to be a very steady covering of short positions…….nothing to scare the market.

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Yep they had been doing a great job covering around $0.30.
They must have figured if the SP got to there then a lot would bail.
Which was working well until the buyback was announced.

 

[TeddyFiles]

……the steady downwards trend continues

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I guess we want them gone but I’d like to see them exit with a good increase and some pain.

 

[Lattelarry]

……the steady downwards trend continues




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Yep they were probably loving being able to close so cheaply in quite large amounts until Friday.
Even now the price is extremely good for them - they must have made a killing.
It will be interesting to see if they are still closing this week - I have a feeling they probably have - but who knows!

 

[TeddyFiles]

Yep they were probably loving being able to close so cheaply in quite large amounts until Friday.
Even now the price is extremely good for them - they must have made a killing.
It will be interesting to see if they are still closing this week - I have a feeling they probably have - but who knows!

Bit of action in the auction.

 

[TeddyFiles]

Exit stage left!……..walk calmly…..you have until the 12th July…

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I still hate that they are covering without pain.

 

[comin2getme]

Exit stage left!……..walk calmly…..you have until the 12th July…

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Show me blood. I'm ready to double down when the sky caves in...

 

[Lattelarry]

I still hate that they are covering without pain.

It will be interesting to see what happens now we are passed EOFY selling.
I don't see why reason why we should start heading north now.
They still have a huge amount to cover and they are closing because they don't see it going lower.

 

[Lattelarry]

Larry, Macquarie increased their ‘lending agreement’ with various entities on the dates highlighted below………….then look at the screenshot further below showing their transactions on the 24th June, which is the date of the buy-back notice……can you see some panic in there?

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ha - hopefully! Aggregate shorts dropped by over 2M that day.
I don't have time to go over it atm but will soon.
Shorts increased again on Monday which is probably good because the cheaper they can do the buyback the better.
I wonder what the strategy is - do you go hard and fast to get the best price for the whole transaction or stagger it so you can soak some up throughout the year on dips?

 

[MICHAEL]

Definitely go hard the first day, completely wipe out the sell side and then see how the sellers lines up (I think the sellers would put in a very high sell side to see if it gets taken out)…….then BET should hold out and wait for the SP to come back down and completely wipe out the sell side again!!………..rinse and repeat…….do you think any algorithm would work that out?

Does L/R 7.33 apply;
And L/R 7.33 states "A company may only buy back shares under an on-market buyback at a price which is not more than 5% above the average of the market price for securities in that class. The average is calculated over the last 5 days on which sales in the shares were recorded before the day on which the purchase under the buyback was made."

 

[Lattelarry]

Good sign yesterday that even with the rise in SP the shorts didn't hammer it

 

[TeddyFiles]

according to Stocktrack….we have moved to 4th in the top 100

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Any chance the shorts just hold tight and wait out the buyback and go back to work on the SP once BET are clear.

 

[Lattelarry]

Latest figures

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Since we've come up from $0.30 they have stopped covering.
I wonder how they think they can cover at a lower price once the buy back starts?

 

[Lattelarry]

A lot of manipulation 5 minutes out from the end of the day….lots of small trades keeping it down to the .395

Yeah doesn't matter in the long run. The lower they push it the cheaper the buy back will be.
I doubt it will be cheap by the time they finish.