They shorted it down knowing the secondary was coming and they could cover through the backdoor of the offering and not in the general market. Now, no more secondaries and no more covering behind the curtain. Whatever short positions are left will have to be covered in the open market. What a racket this is.
absolutely. and since Insmed now has a track-record for this, we all saw it coming (but I too was dumb and held throughout, instead of bailing at $20 (after the WKSI S-3 shelf) ...it's so obvious. I wish I had the time/money/resources to put them all in jail (audit trails are so easy to follow).
I was on vacation these last two weeks, so I haven't read the filings, but didn't we just get diluted just over 25% WITHOUT a vote??!? isn't there a 20% rule?
Exactly jad--- anyone here who does`nt realize that they shorted knowing about the offering coming,is naive. I`m sure Piper shorted along with all the other players involved in the offering. They made money and ended up with free shares. The short interest numbers,if taken today would be much lower than they currently show from the 15th. Are you bashing historian? C`mon man.