If you cover now you will only lose about $0.30 per share, or 5.5%. Not a bad loss to take on a poor investment.
It could be a LOT worse. New coverage, analysts are suggesting a big rebound, company's financial position is certainly no worse than it was a few months ago, and the buzz is leaning bullish. So, take your loss, move on to another investment where you could make up this loss.
I have an idea! Cover you short, then go long SNTA - you won't be disappointed.
There is a discredited strategy in blackjack a lot of people swear by. They say double your bet after a loss because you will eventually win and get your money back plus a profit. Of course, that only works if you have unlimited money at your disposal, and there are no table limits. The certain outcome is that such a foolish player will eventually go bankrupt. That is exactly what our broad moron short claims to be doing. His bankruptcy will be fun to watch. Well it would be if the little guy actually did short stocks instead of playing some childish mind games on stock message boards.