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Synta Pharmaceuticals Corp. Message Board

  • naked_finger naked_finger Sep 23, 2013 12:16 PM Flag

    Why too much shorting on SNTA

    Short Interest (% of float as of 08/30/13) %135.91

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    • Read the thread - this has been discussed a lot.

      However, in this case there is also a bit of the shorts trying to short their way out of a bad trade. There are lots of shorts who opened their positions below 4.50 and are now under water in a major way and paying interest also as the shares are hard to borrow. They add to their short positions trying to get the shares back down to a level where covering does not create as much of a realized loss. But this is a losing battle for them, and they will cover at higher prices.

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