Every short on this board makes the exact same argument, it goes like this - yes well the stock can go up short term, but the balance sheet.. (blah blah), was .50 6 months ago (blah blah), so gravity will set in and it will come back down (blah).
I personally love to short, and I think everyone here can make loads of money irrespective of which side you take. I just don't understand why you want to get in front of a freight train at 4, and battling it out, instead of shorting it at 6 or 6.50 and having a much better chance to win out, not to mention it will be an easier trade and way more profitable.
No float is a No short until it gets "ridiculous", and $4 is not even close.
Lets all bank.
Good evening rogerer1000- because there is far from certain it will go there- its already being valued higher than Google by the Book Value measurement. And it is very unlikely there will be any shares to short at that time even if the mania did continue.
At the high point Friday Fidelity showed 278,000 shares available to short, if my memory serves me. That's tiny.
As has been pointed out, the stock is largely owned by insiders. They are not going to lend their shares out for shorting, it would be self-defeating.
Better to grab the few available short shares, have a reasonable position to hold and be one of the few to benefit from the coming plummet to earth.