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Myriad Genetics Inc. Message Board

  • into_something_good into_something_good Jul 25, 2014 5:28 AM Flag

    Short Squeeze Appears to be Underway

    The 1M+ covering in the 2 weeks to 7/15 was the highest since April, following the positive CMS news.
    On 7/14 the price ran up to 40.50, closing at 40.41 on increased vol. and no news.

    The shares outstanding at the end of the 1st q. was 74.8M due to 1.5M in buybacks. With continued buybacks, the number for the end of the June q. was reduced to 73.3M if the buyback pace continued at 1.5M/q.
    Because the buybacks are withdrawn from the market, brokers are forced to issue recalls for the borrowed shares: a classic squeeze on the affected shorts. The continued pattern of "2nd Fridays" appear to be inevitable as long as the buybacks continue. As Sherlock would say, "It's elementary, Dr. Watson".

    JMHO, of course. Be sure to do your own DD.

    Sentiment: Strong Buy

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • please please explain your amazing short squeeze theory! before spamming again how amamamamamazing mygn is please explain how the short squeeze is under way. the shorts are really getting destroyed here.

    • please look up the definition of a short squeeze. the price moving 8% in their favor as the CEO sold shares, is not really a short squeeze. in fact, it is the opposite of a short squeeze. and as i have repeatedly said, there has not been one, and likely wont be one. one might argue even that the stock has been artificially supported by the buyback and covering, saving us from a price significantly lower.

 
MYGN
38.12+0.11(+0.29%)Sep 17 4:00 PMEDT

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