Short interest droped from 14 million to 10 million link
go check on shortsqueezDotcom they posted all nasdaq,Amex and OTC Short interest. within a month short interest drop from 18 million to 10 million. So far I know short do not cover companies who are going to bankrupt.
I think that it is impossible to sell this stock short right now. However, existing short positions can be closed out. I would assume that if both of those statements are true, you would slowly see the short float decrease. Since the 1.00 price has held up, I'd imagine part of that is covering at the low 1.00 level, but obviously not very fast otherwise we'd see movement up.
So why has it been so easy to cover without pushing the price?
Wouldn't have anything to do with our 2 outstanding shorts would it. (I don't think they influence anything)
Maybe it our friends on Wall St again helping each other out at the expense of the small investor.
There are still 2 important options dates this year. The July and Oct each cover about 5 million shares in open interest. I just want to remind you all this could have been behind us. There was a period when regardless of whether or not O returns didn't matter. This company could have been a gold mine via our short friends.