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Inergy, L.P. Message Board

twfry_2001 1 post  |  Last Activity: Oct 17, 2014 1:35 PM Member since: Sep 20, 2010
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    Buy back 1.6M shares

    by tnappi Oct 16, 2014 12:54 PM
    twfry_2001 twfry_2001 Oct 17, 2014 1:35 PM Flag

    The current stats are
    Total Shares: 38.33M - 1.64M = 36.69 shares
    Total Float: 34.11M - 1.64M = 32.47M shares

    Of these the % held by insiders (which we can assume are not shortable) is 27.15% or 9.26M shares. This means there are 32.47M - 9.26M = 23.21M shares that are publicly traded and held by institutions or retail.

    As you showed of these 23.21M shares, 15.63M are lent to shorts or 15.63/23.21 = 67.3% of ALL public shares are shorted. This is amazing.

    Now lets assume RR buys back another $75M shares at $13.67, or 5.48M shares. The numbers then work out to

    23.21M - 5.48M = 17.73M shares held by the public

    15.63M short / 17.73M public = 88.2% of ALL shares shorted.

    These numbers can not hold. And if somehow they do RR just needs to buy back a mere $15M additional shares to force a squeeze by bringing the public float below the number of shares lent. Something has to break here at some point.

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