hirschnathan - thanks for that. Just had a good trawl via Google News.
Press comment in December was very interesting. Seems to me that the sp has to hit around £130-£140 to force Cackwell to close his short. I was studying his letter, and frankly it's utter bollocks. I spent 30 years in the City, made my money and retired at 50. I think the authorities should actually be coming down on Cackprick because imho his letter breaks the rules as he went public and opened a short.
He is basing his stance on the fact that 54% of the shares are held by two holders - but that's the name of the game. Just because QXL is so tightly held doesn't mean it's illegal. It could be me that held a stake of 27% also (I wish), then 81% of the stock would be in three hands. Would FTSE or the StockExchange rule against that also?
Cackpod is only spouting off publicly now because he opened a large short a couple of weeks back. Concerted buying by those of us who want to tomorrow, plus some more interest by the tracker funds on the back of recent press comment could just see Cackwhiff close out.
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