Has dropped to 6.4 M, reporting 11/15/2012, which means that there has been a lot of covering already. Today's spike might have other reasons than SI: e.g. publication of thanksgivings selling of the product...
I for one don't count on a short squeeze... Short sellers are way to organised for that. Unless of course, there's a buyout!
Very disappointing to see the SI drop along with the share price; the potential for a short squeeze is diminishing. It was a long squeeze down to the 7's and shorts won this battle. Sad to see the longs bailing out of fear without standing by the fundamentals.
The share price will rebound as it was oversold. It's nice to read that analysts have about a 16 target price on the stock, but I wonder if it can actually get there? Is the same recipe in store for Skul as the share price returns to the low teens....i.e., will the short interest return to its high levels to set up another long squeeze? It worked last time so why not manipulate it again? Fundamentals aside, such a trade did (and could again) make traders a boat load of money.
I'm long Skul, but I've got no problem following the masses for a profit. If short interest starts rising with share price, I would sell my long and go short. I wonder if such a theory/concern is holding back institutions from going long as they don't have the strength/resources to fight the shorts who are strong?