1% left of Topglove shares to be shorted by JP Morgan and their foreign associates. Don't let foreign investors fool you to sell
As expected, foreigners shorted huge amount of Topglove shares today (11% of total traded volume) after their associate JP Morgan wrote a unreliable and non factual analyst report on gloves yesterday.
There is only 1% left to short Topglove (4% cap set by Bursa).
Their current shorted average price is RM5.9 for Topglove.
If the price can sustain above RM5.9 before the 4% cap is reached, all short sellers will officially lose money and forced to buy back at higher price
Note that most of the short sellers are foreign investors (scums), and
JP Morgan's clients are mostly foreign investors (scums)
Their report is written with ill intention by stating all the negative and fake news instead of facts from management and reality of covid situation. Shame on Jeffrey Ng and YY Cheah