Bullish
$EBIX short interest fell another 150,000 to 6,028,167. Lowest it’s been since October 2018. Seems both longs and shorts alike are feeling the uncertainty of how India will play out. It makes sense that a group of mostly U.S.-based investors have difficulty assessing what’s happening across the world or just don’t want to do the hard work outside their comfort zone. This is why the India IPO is so game changing. By removing this uncertainty standing in the way of fresh investors, Ebix will shift from the “too hard” pile to the “interesting situation we can assess” pile for many institutions. That inevitably will lead to renewed investor demand and likely share appreciation. The shorts know this and that’s why they’re covering. What say you @gilbang ???
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