I'm not exactly sure how you've determined that 1.7% of the float short is significant, and days to cover at 4.43, that is nothing, that is a lower short percentage and dtc than probably 95% of the stocks in existance. Don't get me wrong, i'm hopin the stock turns up substantially, but if you think that is significant enough to squeeze the price a little higher, you're wrong. It's gonna take good news, and good news only.
As an idea of what significant short interest is, look at one of my other stocks (HDTV), this is what is considered significant short interest:
shares short: 6,111,851 % of float short: 19.4% Avg. Daily Share Volume: 247,263 Days to Cover: 24.72
If good news comes out, the stock will go up significantly. The shorts will not be able to cover at anywhere near where the stock is now. There will not necessarily be that much liquidity in the shares for them to bid at. After all the stocks' troubles, most of the float is in the hands of long-term investors who are obviously ready to wait this story out.
Just an added (if not an enormous) boost in the event of good news, as i said.
if somehow you honestly believe that that percentage of shares short needing to cover in the event of good news is going to add any significance to the price boost, you honestly need to review the definition of significant first off in your review of the short interest. Also, as a side question? That was the short interest as of may13?? How many of those shares do you believe were shorted in the area of $1.15 last week with the mini rally we had? My guess would be as of today, there are less than the report showed.
Also, in the past month, short interest decreased by 40k shares(or 8%), and the stock price decreased by roughly 40% in that same time frame. I'll give you a hint, short interest decreasing normall leads to stock price appreciation, not depreciation like noted here......I.E. That's BAD