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Blue Sky enters trading halt following attack from short seller

Blue Sky shares plunged over 13% today before shares were halted.

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US-based Glaucus Research says it believes Blue Sky's shares are worth $2.66

Blue Sky Alternative Investments Ltd (ASX:BLA) requested a trading halt from the ASX today after a report emerged from an activist short seller Glaucus Research.

The ASX granted the trading halt but shares had already dipped 13.4% to $10.40.

The trading halt was requested so that Blue Sky can review and respond to a research report which it has recently received.

Blue Sky requested that the trading halt continue until the earlier of it releasing an announcement in relation to the research report or until the open of trading on April 3, 2018.

Glaucus targeted sandalwood company Quintis last year

This is Glaucus Research’s second ASX target after it released a report on Quintis (ASX:QIN) last year.

Quintis is now in administration.

Quick facts: Blue Sky Alternative Investments Ltd

Price: 0.185 AUD

ASX:BLA
Market: ASX
Market Cap: $14.38 m
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