You know that this stock has been shorted for many months at many dollars PPS earlier and at 50MM shares short has obviously approach a super-saturation point. Consequently, I suspect that the old shorts and more recent shorts are grabbing every share they can buy to cover and remain under the radar - why not grab 300 shares pre-market at $1.07 if you shorted at $10 - $15 or higher? These shorts would be highly profitable even buying at $5 to $10, which they eventually will, particularly since they are not getting the trading volume at the absurdly low PPS we have been at. But the shorts will work every step of the way in my opinion to buy as much as they can as low as they can - pure economics.
Agreed. The shorts obviously have sweetheart deals with many of the long investmt mngrs and funds, but why let a trade "out of the market" run over the tape when it's counter productive to buying as much - as low as possible? And 300 shares. I could understand being willing to take 30,000 shares or 300,000 shares over the market to start covering, but 300. Maybe it was a fluke...... hoping for an earnings surprise!