Well, NITE isn't giving up on their position trade short in RGRX. Of the 195,000 that traded yesterday, 109,000 was shorted. That's about 55% of all volume, short. I can think of better ways to try and make money than shorting 109,000 in the 5 cents-a-share area. It also shows that NITE will do what they have to to keep a lid on it.…because they are betting on a lot more volume to be sold in next 7 weeks for tax losses. So the lower they print RGRX, the better chance of people throwing in the towle and puking…..whatever price… for the tax loss. So NITE will just offer big size to keep a lid on.
At this price why bother selling-tax loss is available if it goes belly up too.
I assume most of us spent alot more than a nickel buying this so selling at 5-6 cents vs the slight hope things can improve does not seem worth it.