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mad scramble for myer shares: how the short sellers got squeezed

mad scramble for myer shares: how the short sellers got squeezed Article News With Simple Text and Web Resource Link. For View Full Content Click on Source Link on Then Bottom Of News.



mad scramble for myer shares: how the short sellers got squeezed

these people now had to buy myer shares and cover their short bets - and the share price soared by almost 40 per cent as they scrambled for stock, which in turn explains why the volumes of shares traded were well in excess of the average.loadingwhile 40 is a large percentage, the surge comes off a low base. in dollar terms, the shares gained 16 cents - taking them back to where they were trading at in february.while shorting myer has been a good investment strategy for a long time as the performance of the company and its share price have been deteriorating and regularly disappointed, the appointment of its new chief executive john king a couple of months ago stirred hopes that his turnaround strategy could improve the company's fortunes.the...