I have looked closely at the short interest in ESI to assess the short squeeze situation. I could never figure out why there has not been a massive short squeeze over the past 5 years. I kept wondering why. Then I realized the answer. The issue pertains to the long term holders of ESI. There are about 8-10 large institutional shareholders of ESI who all together own an huge 14 million shares, well over 50% of the outstanding stock. These shareholders have been in ESI for years and will most probably continue to be long term holders. They would have sold already if they thought they should sell (in hindsight, they should have sold, but at any point in time, they simply have not sold). So where do the shorts get their immense 9 million shares to borrow? They get them from this pool of 15 million shares held by the stable long term holders. These long term shareholders have never asked for delivery of their ESI shares, thus creating a forced buy-in for the shorts. What I do not understand is why these holders have not asked for delivery. The short squeeze would be massive. However, it is not happening. As such, the shorts feel totally empowered to have a short position that represents a large percentage of these 15 million shares held in stable long term institutional accounts. As such, I would not count on a short squeeze in ESI shares.