China Reverse Merger Pits Morgan Stanley Against Hedge Funds
....talks about a lot of the details in the battle....with K Barnes, Seeking Alpha and Yongye. You might find it interesting if you are new to the 'battle' with the shorts....
Yeah, I remember that machine from some of the youtube videos. I don't remember the bottling setup from my visit.
I guess one would hope that they have additional bottling capacity, or that the machine is capable of running faster than shown in the PR video.
QED is a little strong, don't you think?
This was an interesting tidbit:
"Shares closed yesterday at $5.19, up 13 percent since the day before publication of the Absaroka report. Short selling has fallen to 3 percent of outstanding shares as of June 17 from a record 9.4 percent on April 4, according to Data Explorers, a New York-based research firm. The average short interest for stocks in the Standard & Poor’s 500 Index is 2.7 percent. "
Yowza's, if thats true we should see short-interest go way way way down when it is reported this Friday!
"global: The Bloomberg picture shows a machine that fills and caps about 1 bottle per second. 1 bottle is about $1 in revenue to Yongye when sold. 8 hours x 250 days a year makes how many bottles and how much plant product revenues? QED. "
I'm pretty familiar with filling machines and that type of production. Most facilities would basically run three shifts and keep the machines running 20+ hours a day or so, and run more than 5 days a week also. Still, even running straight 24/7 365 days a week the numbers don't even get close. I haven't seen their facilities, but they would need quite a number of production lines to run that many bottles. Your one bottle per second is probably pretty accurate.
Awesome link, thank you! I think this was my favorite part...
"Short selling has fallen to 3 percent of outstanding shares as of June 17 from a record 9.4 percent on April 4, according to Data Explorers, a New York-based research firm. The average short interest for stocks in the Standard & Poor’s 500 Index is 2.7 percent."
Let's hope it stays that way! :)
We should have the official numbers for short selling as of 6/15 by Thursday, if it is at 3% of oustanding shares as they say that would mean 1.5m shares versus 4.9m end of May, this would be a huge drop. Good and bad, the good side is that would mean the short sellers have left for the most part and they should be less propaganda from the shorties, the bad news is that they have already closed their position meaning not a lot more potential demand for the stock from them going forward. Anyway I prefer a world with less short sellers but such a drop in short sell position would explain the share price increase of the last 2 weeks.
Let's see if the number of shorted shares is confirmed on Thursday.
I'm very long Yong and hopeful. I didn't see the article as positive or negative. There were troubling parts of the article, not the least of which was...
"During a tour of the Hohhot factory at 2 p.m. on a weekday afternoon, only a few workers were visible and workshop doors were padlocked."
I'm not sure why they would only have a few workers in their factory that evidently needs to run overtime to meet the demand.
My favorite was: Barnes couldn’t get access to Yongye’s facilities from his base at the Holiday Inn in Hohhot earlier this month. The company denied his request to join an investor visit on the grounds that his interest “is not one anchored in good faith,” it said in an e-mail sent to Barnes.
I'm not so sure that was the best business move, but was sure showing YONG people get good and mad at those that trash their copmpany. Probably Wu and Yu were afraid they would poke Barnes in the nose if he came onto their site.