New Short Interest = 24.16 M shares (39% of Float)
The SI as of June-28th, 2013
Float Size = 62 M
Previous Period SI = 20,308,681
Current Shares Short = 24,156,308
Increase in SI = 3,847,627
% Increase = 18.9%
SI as % of Float = 38.9%
During my last SI post, I suggested that I would not be surprised if the SI went up by 4M-5M shares and bingo... I was right on target!
WLT just needs some sort of catalyst to get the the short squeeze going. 40% seems like a pretty big SI and would like to see the price stabilize and daily trading volume go down, there by increasing the 'Days to Cover'.
Let me get this straight picker. Are you implying that if it just so happens to be that tomorrow or sometime this week WLT management get off its AS*S and puts out with some positive news, that the large SI will shoot up PPS while all shorts try to cover.
I'm not implying anything about WLT management or any upcoming positive PR...
40% SI is a like sitting on a pile of Dynamite, but somebody needs to light the fuse (Catalyst to set it off)
I can speculate on a few possibilities
1) Better Global outlook for Steel and hence MET coal
2) Positive PR related to operations or financing by WLT management
3) Better than expected earnings and guidance, followed by upgrades.
4) Just purely based on technicals, if WLT manages to get above $13-$13.5 (Ending the downtrend from Feb-13). It looks like it already breaking out the downtrend since May 21 st.
5) M&A rumors (Always a popular one with WLT)
All stocks irrespective of the exchanges that they trade in have a "Due Date" (Generally 2nd business day after the "As of Date") by which all Short positions must be submitted. The exchange then compiles the information and makes it available to the public on the "Dissemination Date
after 4 p.m., ET" based on a "Short Interest Publication Schedule". So, depending on the exchange you might have different sources for the information on dissemination date.
For WLT (It is registered with NYSE) I use WSJ (Short Interest: NYSE Highlights) data.