Disclosure: I own shares in one or more of the stocks mentioned. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Various parties involved in the New World Oil & Gas (NEW) fiasco seem determined to spread false information about the current size of the naked short position. At the EGM, one of Cornhill’s representatives laughably tried to claim that the volume in the first three days of trading wasn’t so spectacular and “at least 650million of the shares traded were done over two transactions, which were ‘bed & ISAs’”. That was an interesting enough revelation, but what is the true state of play?
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