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𝛼SKStubWorld: Melco (200 HK) Needs To Fall
803 Views18 Jun 2025 06:15
I see the NAV discount at 9% after incorporating the rights and the rights proceeds. Way too tight. Melco's relative strength in the face of the rights may have been short related.
What is covered in the Full Insight:
- Melco Rights Issue Overview
- Current Shareholder Structure and Lawrence Ho's Stake
- Market Reaction and Trading Dynamics
- Valuation Comparisons: Melco vs. Peers
- Recent Gaming Sector Performance
Boomeranged on Fri, 27 Jun 2025 08:39
I'm hearing Melco International Development (200 HK)'s 11.9% gain yesterday - on serious volume - was predicted on a short squeeze, just eight days after the fully-paid rights shares commenced trading. Current shorts outstanding are 51.5mn shares or 3.4% of shares out (flat year-on-year), and ~6% of real-world float. Borrow rate is ~20%. I currently see Melco with a 2.4% premium (!) to NAV.
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