It usually takes about two weeks to dissuade a short attack of this magnitude, but even then, if the opportunity exists, they may try again. They target stocks that have 3-mth ave volumes less than 500K. By the time you eliminate the volume of the first hour and last half-hour of the trading day, you're left with about 20,000 shares an hour that they have to compete with. These entities are armed with mega-millions at their disposal and they will force the stock price down, as what happened here. Most Investor Relations personnel are completely clueless as to what is going on and need to be informed of the counter-tactics necessary to stop the shorting, like a news/press release for starters. Other items on the list include soliciting and expanding the institutional base, or having an existing one shove a 100K market order up the ASK (this advice was recently taken by another firm with the same short problem and they did this randomly twice a day to protect their value -- it took two weeks of fighting with the orchestrated short attack to end it). Other items are announcing a stock buy-back plan over several years, whether they intend to engage in it right away, or have insiders initiate stock purchases. Announcing a dividend is also another way to hedge short holdings as the short holder must pay the dividend for each share he holds short. There are many others, but the important thing is that retail investors need to be on the alert for suspicious trades like what has been happening the past week here.
Thanks trader. If gentlemen don't fight for civilization it will perish. I would love to shove 100k shares up their butt twice a day at unspecified times. Let's make the game interesting. Everyone's got to have something to lose. Bullies pick on soft targets. Got to stand up to bullies. Time for the big boys to step up and protect us and themselves. Only good thing about all of this ask fixing is that if the price stays below 5.50 it will probably make the over allotment irrelevant. My best.