Anyone know how many millions of shares have been sold short on CNDO? On Yahoo Finance it appears to indicate over 6 million shares on shorted. That would be about 20% of the outstanding shares of CNDO.
We may have a 'melt up' coming in CNDO.
Yahoo is a tad behind, as of 11/15 there is a 3.5M short interest. 2.6M shares covered in the past month.
That is a very good sign, shorts already started to cover but there is still a big short position that can get crushed.
Considering this trades 1M shares a day and 2 to 3M shares on big days, those shorts have to scramble.
But the "smart" shorts already covered, which is good actually, it shows they know the stock is ready to romp.