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While the SAIC filings have been discussed to death among us, the shorts will still try to grab onto everything they can as they are currently free falling in the credibility department.
Perhaps one of our contributers can write a preemptive article and quash this issue.
This part of Chiman Shorts blog made me lol:
wctbills - Awesome job in exposing the short selling frauds...yet again.
Wow that is probably the worst blog I've read to date on this issue. Really lame attempt by a retail short thats gonna feel the pinch come Monday.
lol yeah, working for the SEC is officially one of those looked down on professions.
Just filed and added a little twist to mine, see if I can't get them to bite.
Its working now. I think this is a good idea, if enough people do it and we harass them everyday they might just get off their asses and earn their paycheck for once.
The link you provided gives me a 404 Error, you have another link?
I think you might of missed the bear raid we had on Thursday:) IMO they were fortunate that the brokers raised margin on people which forced us all the way to $10 and scared many many people out of their shares, otherwise we wouldn't have gone lower than $13. I was lucky that I got off margin before the Citron hit and even more lucky I closed out most of my naked puts the day before the MW hit.
I think the bear raid is over but if Citron releases a part 2 it will focus on the same garbage thats been discussed. We'll see if the herds fall for it again but as they stated it will probably focus on the following.
-SAIC filings don't match (doesn't matter for VIE structured companies)
-Credit report states CCME has bad rating, high risk, etc (will probably be done by cheap online company based in China to give it some credibility, but it will be based of SAIC filings or another company with a similar name)
-Quotes from industry professionals(a quote from VISN/FMCN media rep or IR, stating CCME is a small company with a few hundred subpar greyhound buses whose riders are migrants and factory workers)
We'll see what happens next week. A few things to note is that margin requirements on CCME are still high so this will discourage weak hands, the institutions have been and will continue using this huge volume+fear factor to load up big without having to worry about the price running up too much while still getting a huge discout, and finally the short interest is still high even though they used up most of their ammo which is being proved false.
Who says we don't get our squeeze even shorts can regret being too greedy. Remember if a short is too good to be true it probably is:)
It actually makes perfect sense that they would want to be listed on an American exchange.
I'm not going to go back and explain the SPAC/TMI days, but I'll remind you that they had a big opportunity due to their contract with the Ministry of Transport and they wanted to captilize on it right away.
They could have and in fact were considering doing an IPO but the process would have taken too long so they chose the fastest way.
The only capital they raised was from the warrants and with Starr and since they haven't found any big aquisition target or better use for all that cash and still they keep making even more cash why not build shareholder value and issue a dividend? As a fellow long I'd think you'd be happy paying, I mean receiving the dividend:)
Imcat - I can't reply to PMs but I wouldn't be surprised either. I think they'll soon realize that they messed with the wrong Co.
They didn't IPO. Did you just short the stock without doing any DD?
lol, another retail short about to bite the dust. You should have went long.
Hmm seems your right, the link I used must've been wrong, my mistake.
Finally someone putting some heat on these scumbags. The fact that MW pulled the report from their site proves they were full of bs.
Yup just like retail longs got screwed on the way down, the retail shorts will get screwed on the way up. Full circle.
Most definitely the smart shorts covered and went long, but they needed new shorts to pick up the tab and help fuel the rise, which is why there are still very little shares to borrow.
These new shorts are the guys that are going to feel the pinch.
Don't worry you'll feel better come Monday when we get a MEGA PR. What's that burning smell? lol
GS - definately will start coverage soon. They know how to compare apples to apples and can see the price difference between FMCN and CCME.
You must be one the guys that anticipated the next $hitron report. Let me guess you bought puts when the stock was at $11?
I wouldn't be surprised if some institutions decided to double down.
This is looking good and with the increased margin restrictions on CCME today, all these buyers are going to be strong longs IMO, exactly what we needed all along.
And you can bet Monday news will rock the shorts anticipating a $hitron 1.5 report.
You are absolutely right and it is a fact CCME never said they were a distributer of any product. They are merely a middle man advertising a wide array of products and taking a small cut on each transaction.
Its just another false accusation MW made for which they can be charged.
Good to know Jacky's not hungover from the new year and is on top of this. I really hope they step up and give a master blow to the shorts.
Please keep us updated if you hear anything else.
I know when the Citron piece came out you and Rato managed to get a hold of Jacky, any luck in doing so thus far even though I know its really early?
If you do him know they need to bring out more than just PR this time.
I wish CCME would just halt the stock and announce plans to take the company private with Starr and relist in China. Offer $25 a share and be done with all this BS. I think I might end up folding tmrw unless management pulls out all the stops.
Thanks for that, you eased the pain a little bit, but it still hurts lol.
All injustices will be repaid in full. If this report had any merit if would have been released on a weekend. Its full of BS same as you and all the people making guest appearances on this board. People will have lost a lot of money today but I'll give benefit of the doubt to management for the time being, and if I get burned its on me.
lol, fak off man if I'm screwed I'm screwed but I won't be intimidated.
WTF - don't know what to do, but looks like I'm gonna go down with the ship. I always hated high volume.
Just got on and I don't know what's going on but I picked some up at $13.90, WTF?
I tried to take a break from all this drama today but damn you tried so hard, lol.
I get where your coming from and that the $hit report has affected your thinking process but don't let the fear take you out of the game. Believe me when I tell you this, if you can't trust CCME then you can't trust any company in the stock market because CCME is as clean as they come. And thats a fact.
Wow, I left for an appointment came back and all hell has broken loose. I can't believe the shorts got off so easy. I said it before and I'll say it again, I hate high volume days.
Here's hoping we finally get some justice in this corrupt market.
You hit the nail on the head, Northland was used as a puzzle piece by the shorts. I would just love for someone to file a lawsuit against Citron they can't keep doing the crap that they do without consequence.
I will be the first to admit that I did in fact sell 1/3 postion before the report came out. Fact is I was 50%+ on margin and thought it wise to get back to cash levels. I must say though, now that I'm not on margin anymore the nerve levels dropped to 0.
Yes a big thanks to Citron, those double downed puts are in the green:)
Yea it was more the overhang about a pending $hit piece that was doing us damage, now the overhang is gone and its time to resume the slaughter of the shorts that stuck around.
TOWONA - Would be good if someone actually calls and records a conversation with Towona since I read somewhere a few months back that they refer clients to each other.
Yes and maybe we should credit Northland for forcing Citron to release the half-assed report early. I think we see new highs this week.
I'd expect nothing less then for management to fight fire with fire.
lol, love how they say stay tuned for part 2 at the end. These BS shorts truly are pathetic. Its the SAME CRAP we've already discussed for months and refuted.
Really really weak, time to buy.