If u say so. I think there are a lot of retail folks that found ARNA. Think it is a good story and may help their retirement. WS loves to blow those dreams. The ledger looks imbalanced and WS might have to pay up to the small fry... eventually... maybe not today or tomorrow, but eventually.
That's exactly right Chris, shares have been squirred away, there NO shares to borrow and NO shares in quantity to buy at this level. They spent a few million shares to drop it down last 8 days on top of the 63M short. Plus the interest rate to borrow shares have steadily increased, now over 10% average depending on BD.
That's why they resorted to creating synthetic long shares to sell short off of. The do not have to pay carry interest on these BUT the "reverse conversions" are technically illegal. These are an additional 2M that have to be bought back in by April 20th and another 1M shares due bought in by May!
ARNA can only go in 1 direction over the next few months. These guys are getting more and more desperate, looks like some may break ranks and buy in soon...