Hence the frustrating part a Bear raid, and that's what shorts want. Pounce on a bleeding stock on the way down...Gordon Gecko trying to bail Bluestar. Now will their be a Sir Laurence Wilder on the flip flop?
This is being bear raided & range traded by hedgies, quants & high freqs and until their a catalyst, it's prob gonna slide. Welcome to the world of $5 Pinkies.
Watch the price action. If the stock slides with seemingly good news built in, it's probably being bear raided & range traded.
Given the current rate environment, they really should rename the "High" term on this fund: High Income, really? A lil more than a 10Yr Tres yield For B Average Credit Debt is considered "High?"
Laffont’s Coatue shorts Monitise
It appears that the shortsellers have made the right call so far. Monitise Plc (LON:MONI) (OTCMKTS:MONIF) shares have fallen 16% over the first half of the year. Tiger cub Philippe Laffont’s Coatue Management is betting against Monitise. Coatue revealed a short in early May and has now increased it to 0.85% of the company’s outstanding shares. Others who are betting against Monitise include Jericho Capital Asset Management and TT International. Coatue is known for its technology-focused portfolio; Laffont has invested in tech start-ups, but has been expanding his short portfolio lately.
This is not the first time, Coatue has taken the short side of a controversial battle ground stock. As we recently reported, Coatue has sided with Gotham Research and opened a short in Quindell PLC (LON:QPP). The bet pits the two against top UK hedge fund, Polygon.