To anyone who has second guessed it, naked short selling is alive and well here. 1.7 million shares in April were failed to deliver, May data has not come out yet. Given total volume in April was just north of 9 million shares, this is meaningful manipulation in my estimation. If you don't believe me, data is right there on their website, just takes a dump into Excel and a quick sort and sum to see.
The stock is selling a extremely low PEG ratio due to the abusive short selling period. The shorts are being set up to LOSE big, !00's of millions of dollars.
Istitutions added 17% to their positions last quarter and in two more quarterers will own 100 % or more of outstanding shares please check out the charts of other stocks where this has happened FIRE, ADS,PEET and others
while the stock has been manipulated down the shorts are still the predominate seller some days 70% or more
one upside earning suprise and two aggressive hedge fund could put 20 point on this stock in a week
if they make 1.15 in the next 3 quarters this stok will trade at at least 30
by opffshoring their earning the effective tax rate will drop from 35 % to 5-10% at most . This alone increaser their earnings 30%
without other major sellers you could not cover 9.6 million shares to 30
actually short increased during that period. don't forget 9 brokerage firms are recommending there clients go long. when did it go above fundamentals anyway? this is a growth stock trading with a low p/e in case u missed that.