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ITT Educational Services Inc. Message Board

  • caustic_fred caustic_fred Jan 3, 2013 2:12 PM Flag

    Oh snap, Mikey!

     

    Did you notice that institutional investors have bought more than 100% of the float? And how exactly can these long-term value investors buy more than 100% of the available stock? The shorts effectively created more shares when they shorted, but all these virtual shares went into the strong hands of institutional investors. When ESI pops to $40 they won't sell. How can the shorts ever buy enough shares to cover? There's only one way, and that's to drive the price so high that the long-term investors decide to cut their holding below 100%.

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5.15+0.25(+5.10%)Jul 28 4:03 PMEDT