Is this sign of change of heart by shorts or something more sinister on their part? One thing I noticed is that on strongly down days like today shorts are loosening their leverage and appetite for adding to the shorts of EBIX. Any thoughts!
If I follow your logic, it must be that you have no investment in EBIX at the moment or you have shorted the stock around $34. In either of the above cases you have no vested interest in share price appreciation. In that sense you are a EBIX basher.
Dude mkt_void here is a news flash for you, EBIX is a highly volatile stock and it is being traded this way for a long time. This is partly due to the curse of short attack and also due partly to other factors such as Stuart has just mentioned. You are trying to preach otherwise is your pure arrogance, of course you are entitled to that until your expiry one day.
The shares of EBIX are superbly manipulated by shorts cowing most naive longs into selling for substantial loss. The shorts aren’t even using humans to do their dirty work, algorithmic trading is rampant in this stock for long time, likely used by shorts.
If EBIX wouldn't outbid it is an indication that the price would be too high to make it immediately accretive to EBIXs bottom line. I definitely think EBIXs final decision would be to protect the bottom line and future growth potential.
Whatever you are cooking up at seeking alpha it seems like the current share price is hurting you real bad. My only advice to you is not trying to distort facts, just try your best to minimize your losses and bail out ASAP.