GraniteShares 3x Short Rolls-Royce crash

I guess is gonna be 0.19

This from granite website
“ The amount per ETP Security of GBp 0.196122 is expected to be paid to Securityholders and was determined after market close on 11 November 2020. This expected amount payable per security was notified through an RNS announcement. Proceeds are expected to be transferred to the clearing system on 17 November (Early Redemption Date) after which they will be distributed. “

What happened was an utter rubbish and a sharp practice. I still keep wondering why they recalculated the price knowing fully well there was a lingering problem. Now, the 3SRR has been suspended from LSE.

I think we need to take the matter up with the relevant authorities. The act looks like a scam to me.


Pretty sure this is the topic of the year… people will talk about this post for decades :joy:


Perhaps instead of investing long on GraniteShares 3x Short Rolls-Royce, should had short it.

Short the short 3x. :slight_smile:

“Hi Kxning …very new to share dealing but I’m the same down about 6k on 3srr if you can email me details happy to work with you to make a complaint”

If you’re very new why the heck would you sink 6k into a single complicated investment like a short?

Tbf I think alot of people would say that…i only started trading in the first lockdown…with just a few K…from march I had turned that into a pot of 21k…with a clear profit of over 11k…I made a lot in marstons…but also made alot in RR…and I still have 6k in RR as was in the RI…the shares in 3srr was to the take the drop from the RR split…I think that would have been the right thing to do… now with the rights issue this week I’m only short by 2k…but this is still not the point…I was putting money into the 3srr pot on the day they stopped the trading on it…even after the stop lose had been triggerd…never right…

Interested to know how people are going to ask for money back? Is it on not making it clear how it works?

28 Oct

5 Oct

:point_up_2: :flushed:

How is it sharp practice? It seems that people didn’t understand the instrument or were happy to gamble on it.

The recalculated the price (as they explained) to try and avoid the stock becoming worthless but ultimately it became inevitable as the underlying RR price changed so dramatically.

The stock has only been suspended because GraniteShares withdrew the stock to enable it to be redeemed.

So where is the sharp practice?


So , did you get the notification of early redemption and share withdrawn ?

I didn’t get any notification.
I only saw a lot of money withdrawn from my trading212 account yesterday.
I will ask them to clarify the calculation of the amount they withdrew.

I am pretty desperate.
Really isn’t there anything we can do about this?
Canceling the shares seems like an abusive action to me.
I admit I didn’t read all the terms and conditions of Granite Shares.
I found out afterwards that at page 345 they say about the Early Redemption Event.

Do you guys think it’s worth trying anything against them in the court?

Isn’t the key reason they had to have stopped it otherwise the SP would have been zero.

So when the RR did this:

You would expect the 3x short to move in the opposite direction. But it can’t go any lower.

So they then killed off the stock and gave out 0.196122 per share?

What I don’t understand is how action wasn’t taken sooner, to achieve a higher SP to work with? They probably wouldn’t expect a very quick double increase but like 23 was dangerously close in hitting zero with any large increase in RR.

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They did take action sooner - that was the earlier rebalancing but it then required more rebalancing 2 or 3 times in one day as the RR price increased a lot (from a low starting point).

Would there have ever been a happy ending going 3x short on a stock that instantly doubled?

I can see why it needed to be rebalanced otherwise people would have walked away with nothing a lot sooner.

Seems to me like it was doomed to fail, and incredibly risky with the RR SP already so low.

Frustrating as it is, I just can’t see how people can win a court case. It did what it said on the tin :neutral_face:


What’s happening with the money still held.
I still had a position here but the ticker has gone ?

Still waiting as well , they just took they shares and the balance of the share been withdrawn

I’ve yet to receive a response but this needs to be highlighted better. The amount lost has not been subtracted from my total return and I can’t find the info in any of the statements. I need to deduct this for tax purposes, so would appreciate more info as the notification has since disappeared.
Further, i cannot seem to locate the actual amount paid out despite it having been about two weeks now since granite sent the money to the brokers.
If it’s been transferred, I request a clear record somewhere, be that in the dividends window (as some brokers have done) or elsewhere. It also does not show up in notifications or history.

I’ve sent upwards of three queries (as you have seemingly removed the chat function) and have yet to hear anything regarding how you’ve settled the funds with exact documentation.

I can’t be the only one that wants to deduct this from their taxes?!

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