Gerry Harvey told shareholders to sell their worldly possessions and buy Harvey Norman scrip. The market has done the precise opposite.
) extolled shareholders to “sell your house, sell your boat, sell your car [and] put the lot into Harvey Norman”.Harvey Norman’s shares are down 9.6 per cent since the result. Many are betting they have further to fall.
In the week to March 6, Harvey Norman was the ASX200 stock with the highest amount of new short interest, fully 8.9 per cent of its free float in the hands of short sellers, which is an increase of 17.9 per cent on the week before the result.ASIC’s short data is a few days late, but to last Friday, a further 3 million shares have been short-sold.
Of course, Harvey doesn’t think “criminal” shorting should be legal at all. When he listed the business back in 1999, heand issued stock only to retail shareholders and other small-time supporters. In the years since, enough of these small-time investors have dumped their stock to leave plenty in the hands of institutions and major fund managers only too happy to clip the ticket by lending it out to shorters whenever there’s demand. This drives Gerry to distraction.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Former staff charged over alleged $600,000 theft from Harvey Norman store in SydneyTwo former staff members of a Harvey Norman store have been charged over the alleged theft of almost $600,000 from their employer in Sydney. 9News
Read more »
Latitude Financial hacked, 328,000 customer IDs feared stolenBREAKING: Consumer finance provider Latitude Financial said it has been the victim of a hacking incident and believes identification documents of 328,000 customers were stolen - including the drivers licence details of around 100,000 customers.
Read more »
Latitude Financial hacked, 328,000 customer IDs feared stolenThe consumer finance outfit provides services to Harvey Norman, JB Hi-Fi, Apple, The Good Guys and recently signed up David Jones.
Read more »
Latitude Financial hacked, 328,000 customer IDs feared stolenThe consumer finance outfit provides services to Harvey Norman, JB Hi-Fi, Apple, The Good Guys and recently signed up David Jones.
Read more »
328,000 Latitude Financial customers hackedAustralian consumer finance provider Latitude Financial said it believes 328,000 customers' identification documents were stolen during a sophisticated and malicious cyberattack. The firm said more than 100,000 copies of customers' IDs plus 225,000 customer records were stolen in the hack. Latitude provides consumer finance services to Harvey Norman, JB Hi-FI, Apple and David Jones.
Read more »
Dormant volcanoes and working monorails: the grand designs of Ken Adam, master of the Bond-villain lairA new book celebrates the late production designer whose elaborate concepts for films from Bond to Dr Strangelove influenced the likes of Norman Foster – and it all started with a felt-tip
Read more »