Day to day volatility attracts shorts. And we can't deny that there is a possibility of the PPS collapsing should something go wrong. The potential for a 150+% gain from shorting is too much to pass up. I still feel good about being long.
IMO there is too much volatility still for people not to continue shorting. A lot of money to be made shorting still. We are still a month away from trial starting date. If there is a settlement negotiation it's in its very early stages. News will be very hard to come by. Both sided will be tight lipped on any negotiation. GLTA
If news is hard to come by, why short or even trade it at all for that matter? There has been a severe lack of interest in this stock the last week... No volume or volatility. what's going to drive the price down/up? Too much risk to initiate a short position IMO. Where's it going to go with no volume? might gradually creep down to 3 over the next week or 2, but its trading right around a 200mm mkt cap. round number. and there isn't enough intra-day volatility to scalp.
thats good and bad at the same time. Makes you think whether this is all legit and whether ur money really is on the right side here with so many people shorting. I mean think about it, why are so many people short if this realistically has a shot at going to 9-10 PPS at any moment.... I'm long btw....