They have been getting slaughtered in this stock. How much more pain can they stand before they give up? This is an important question because when they give up there will be a massive short squeeze and stock will fly 10 points in one day. Most shorts are down 10-30% in this stock, what is the typical loss percent before they capitualte and cover their shorts?
Yahoo shows shorts at less than 4%. maybe now that the weight of the KKR overhang has passed we can see a more realistic share price. lot of consolidation in pharma, especially with interest rates so cheap. I bet we see more M&A when Big B starts pushing up rates one way or another.
volume avg so far today.
I think the short position is relatively small, that being said this stock has a wide bid/ask so any large buying puts pressure to upside, the company is buying shares and the last two days have seen big volume. I keep looking for a cause to the rally and volume yesterday but it hasn't come out yet.
According to this experienced trader in CNBC, any time there is a three day holiday, the market will go up 75% of the time on the Friday right before the three day weekend. That means tomorrow PSEC may rise. Today is a good day to buy if you are a trader.