Jessops shares are due to be bought back by Jessops before the end of the year at 0.097p each. Yet they are trading at just over 1p each. They went up 7% today. There's an article on it here Snapshot of Jessops shows caution - interactive investor.
I don't understand the argument that holders are somehow squeezing out short sellers. Surely all that short sellers have to do is wait until the shares are bought out and pay 0.097p per share? Maybe something is afoot, but with HSBC holding over 50% of the shares, no-one else could obtain a majority interest, so I can't really think what.
Any ideas? Can I take a spread trading position in Jessops anyway or are they now too small for any companies to give me a position?
I don't understand the argument that holders are somehow squeezing out short sellers. Surely all that short sellers have to do is wait until the shares are bought out and pay 0.097p per share? Maybe something is afoot, but with HSBC holding over 50% of the shares, no-one else could obtain a majority interest, so I can't really think what.
Any ideas? Can I take a spread trading position in Jessops anyway or are they now too small for any companies to give me a position?
