323k shares short - 98% of whom are easily in the red as of today. Trading volume for the 2 weeks 9-1 to 9-15 exceeded 200k shares a day - the price ranging from 11.23 - 12.49 First time in a while a short squeeze is plausible. At least we have some fuel for take off. Let the battle begin.
The added short position is most likely a hedge against convertibles that Ricks sold. If you have a convertible $2 in the money and a 10% interest rate......you aren't looking to take on equity price risk in order to collect your 10%. They are probably just hoping to get the next coupon. It also lets them with offloading the position when the day comes to convert. The convertible (why they issued it, I don't know and hindsight seems dumb) issued in August would be fully hedged by the 200K increase in short interest. This isn't a reflection on Ricks, just wise money management by a debt holder!
Short interest up 8x, from 40k to 320k and you try to spin that as positive? This stock is way ahead of itself with 3 major lawsuits about to wipe out earnings for 3+ years, possibly even wipe out shareholders completely.
I believe they will cut the share price in half, at least. That's what shorts do. The wise posters here calling for "below_6" could be right after all.