Based on what? This company probably will be shown to be a scam/shell company. I would be amazed if it ever even developed a mine! CLASSIC example, will probably will become a textbook example, of the Larger Fool Theory of Investing! lol
how about cnbc rumour of say a major interested in acquring ree. you know rumour... therefore no proof is needed. you will see ree open at 17 tuesday am and spike to 20 bucks by 4pm. it may still fall later after cnbc takes back this rumour on wednesday am... but a lot of shorts would have gone belly up already. shorting ree is playing with fire. when everyone think something is an obvious short, the unexpected will happen.
we will see next week... op ex on coming friday. let's see if the house will pay off all the put buyers... i for one think not. bears are just as likely to be turned into pigs as the bulls were a few weeks ago.