I'll bet Mr PJ, LT and Honolulu will all be puking at once when the next quarter comes out.
After prophesying about the company says this the company says that the balance sheet says this... They have negative NET cash period...And I can't wait for all 3 of you to be eating crow here... gooday
You'll be waiting a long time unless this counts as crow:
"I am long two hundred something shares at an average cost of over $3!"
There. Now back to the relevant situation: You shorted at about $20/share, and that is good to have in your history; however, your exposure to share price movements is exactly the same as would be that of someone with a short position of equal size established yesterday at $2.06.
To put it another way, if your broker made a mistake and covered your short position right now at $2.10, would you angrily call back and reshort at THAT price to go after your ... $1.85 target price for covering?
Anyway, I have nothing against shorting--I do it myself **elsewhere**. I also eat shorts for lunch in stocks in which I am long--not intentionally, but that's the way it works out when vindication of my being long arrives (that would be share price appreciation, if you are wondering...).
I thought MOST companies have "negative net cash." Why do you have your panties in a bunch all over this issue.
HTCH's balance sheet is VERY strong, with current assets at roughly 4x current liabilities. Anyone talking as if there are financial issues here is just plain lying...especially after the company's recent refi deals.