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Corinthian Colleges Inc. Message Board

  • taexpert928 taexpert928 Apr 25, 2013 2:00 PM Flag

    GS increased holding of COCO by 1M shares

    why GS is interested in a $2 stock with huge debt and troubles? This is beyond me!

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    • COCO, in my opinion, is already priced for a poor report. If COCO does report a surprise blow out quarter, the shorts are going to be in for one heck of a ride as they scramble to find the exits and life boats, of which there are not enough. While the stock's short interest, according to NASDAQ, has fallen from its peak in August, it will still take over 3 days in very high volume for the shorts to cover. With over 32 million shares shorted (31% of float) and a float of about 79 million shares even on a heavy volume day, I would expect that at least 3 day of trading volume would be required to exit. This indicates to me that any upside surprise could light the fuse on a powder keg of upside price movement.

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