When tender is announced the shorts are going to have a very very hard time covering. There will be 30% fewer shares available to short.
Tender will be announced within 10 business days of Jan 10 according to SEC report. With MLK day that makes the deadline this Friday. 3 days for shorts to cover.
Does anyone know if you offer your shares in the tender do they become unavailable to short ? (The AMTD rep in the M&A dept did not know the answer.)
You can short your shares until the tender is accepted
It doesn't appear the January 15 numbers are available yet on nazdack - do you have another source for the current short info?
I doubt that the shorts are in any kind of panic or need to cover. The call open interest for January-13 was over 66m shares at 3.50 and below and the 30% tender would just about cover the shorted shares. A very well played and profitable bear raid