AND I'll bet this recent massive L&G 114m purchase is what pushed the ActusRay 27m 0.53% short position over the declarable 0.5% threshold.
My logic is as follows: IMO the ActusRay short position has been open and under the threshold for ages.. - certainly months - becuase, unless 27m show up on ortex loan today - according to ORTEX, there have been no major increases in reported stock on loan recently whosoever - not for months.
In fact, - if anything, a significant reduction 70m to 50m since middle of last year - and it's my opinion that ActusRay have been driven out from under the report threshold to declare, quite unexpectedly , by this pretty massive and unexpected 114m L&G buy: Which means they are massively underwater and averaging down. Specifically - there have been no significant changes to ortex in January - certainly not 27m added... if anything 9m closed. So I think that is almost conclusive.
That said 5.6m were added to Ortex today (Thurs 18th Jan) but this simply corroborates my theory - they had to borrow and short more in order to try and keep a lid on price.
I do love it when shite short is underwater - so, I thought I'd look into this ActusRay outfit further: I concluded, pretty quick they are new kids on the block and given the pretty ugly performance of their other shorts, they are in fact pretty rubbish at it. (Notwithstanding and given the collapsing global stock market - that's a pretty dire performance, frankly (RUSSEL 2000 DOWN 20% cycle to date and CHINA composite index DOWN WHAT 25% ? )
![Shocked :shock:](./images/smilies/icon_eek.gif)
Just look at their present record... 2 of 5 open short positions appear massively underwater. Saga and CRST (just opened) maybe break-even, but FORT went REALLY badly wrong... and so far and NCC is a TOTAL disaster.
Regarding NCC look where they entered - Doh !
Same for FORT
This outfit look like a bunch of muppets IMO and they are about to lose their shirts. ActusRay are simply far more underwater than it appears and 27m is pretty tricky to buy back.