Did not. Paulson just tightened the noose on those still holding short positions. Just think, Paulson adding here (instead of selling) is a strong indication he believes this is headed higher and likely much higher.
Starting to sense very short-term target is $28-30. Still was mentioning $40. That would be almost 700mm market cap which would be around 1x FCF. Possible? Yes. Just hard to fathom after combined market cap of DEXO and SPMD has been well under 150mm for a long time. Guess things are changing for the better!
Think about it. Bass bought up 10% of DEXO and SPMD. He tightened the float quite a bit with those shares. I do not see how the shorts will be able to cover. I suspect shorts covering are buying from others shorting. LOL! They sure are not going to find enough from retail.
So, until some large holders decide to lighten up, those holding short positions are in a heap of trouble.
I thought those shorting this stock were smarter than that. I even told them to cover before the conversion when DEXO has an abundance of shares trading. Even if they had to run it up to $3 to cover, it would have been very smart. Now, they are looking at more than $4 and it could get worse - much worse.
This has been one heck of a last couple of weeks. Not very often do you find a stock move from $11-22 on little news. The shorts have ^#%@*^ us over so many times. I really, really love to see them scrambling for a change!