The short interest report for the period ended 3/31 came out after the close tonight, and it showed 3,620,999 MLNK shares short as opposed to 590,118 shares for the period ended 03/14/2014. This confirms my suspicion that there was hedging going on in conjunction with the $90M convert offering. Selling over 3M shares of a thinly-traded stock like MLNK short over such a short period of time undoubtedly put a lot of downside pressure on the share price.
IMHO that was a great opportunity to pick up stock at reduced prices. Now it's up to management to put that money to good use and hopefully prove me right.
Good analysis #$%$...considering the number of share sold we held up really well...Steel Partners (owners of HNH) must have gotten their friends on the Street to help absorb this selling pressure. I did my best with my modest few thousand shares at 4.05.
What I do not understand is who would be selling at this price level...it is tempting to play the daily swing with 10,000 shs but then one day news will break and boom...and you're out of it.
Had some QCOR last week...was taking a beating last Friday...almost wrote some calls on Thursday, then hate myself on Friday for not, and then felt great on Monday. You just never know...