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ZAGG Inc Message Board

  • smilingwolfcapitalmgmt smilingwolfcapitalmgmt May 8, 2013 11:30 PM Flag

    Latest Update on the Short Situation

    I am thinking the shorts did the 1 million and then re-shorted. They were churning huge amounts of shares on Monday by providing support in the upper $4s and re-shorting in the lower $5s.

    We appear to have hit a price target the shorts were aiming for (they've been calling for $3-5) on their twitter feed. Some of them appear to be considering going long here believe it or not, as one of their sites encourages people holding to hold and everyone else to take profit on the short and wait for a signal. That site claims to have held a core short position since the $13s,

    Last two days short volume has been fairly light on the exchanges although I do not have full details of the dark pool trades (there have been a few) so I am not sure if the shorts transacted there.

    I can tell you though that short margin interest has been going up, over 4.5%/annum right now, and there are currently 0-75k shares free for shorting, down from over a million shares free early last week. In English, the shorts extended their position. It is looking like they have been throwing the kitchen sink at it to keep the stock from rising so as to "sell" large investors on this price range. They used over 1 million shorts on Friday and another 300k or so on Monday. They tipped over the cow and have been working to keep it from getting back up on its feet.

    We have some ugliness on the stock (damned management), the short monkey on our back will probably lighten up up starting next week - do not expect $7 yet though.

    Google Queries: Jordan Terry, Nigam Arora, David Own. FINRA SHO May 2013 Daily

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ZAGG
5.74-0.05(-0.86%)Aug 19 4:00 PMEDT

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