(1) According to Nasdaq's most recent record, there are roughly 27 million Gale shares short.
(2) There are about 118 million shares on the float. Therefore, short is about 23% of float.
(3) If an when a massive short squeeze occurs, and assuming that every 1 million Gale shares which shorts need to cover will jack up Gale's share price by 25 cents, then:
Every 10 million shares for covering purposes will force Gale's share price up by $2.50 per share.
Every 20 million shares for covering purposes will force Gale's share price up by $5.00.
Given today's closing price was $2.68 per share and a massive short squeeze involving 20 million Gale share should add another $5.00 giving Gale a total share price rise up to $7.68 per share.
Just think that I have not factored any positive news in connection with another star performance of Abstral and NeuVax full enrollment and very positive Phase 3 interim data.
I do not about you. I will certainly buy more and refuse to sell any Gale shares in the near future.
Enjoy the ride!!!
Today's firm and steady price rise may be a combination of recent good news and the beginning of a short squeeze.
It sure feel good to see Gale beginning to move back up to a valuation level where it rightfully belong!
Have fun. Better days will come soon!
Put a limit order in to sell at the highest price allowable by you broker so that you lock up your shares. If you lock them up, brokers can borrow you shares to shorts trying to cover.
Create scarcity now!!!
Excellent idea, Brenda! I have been asking Gale investors to sell their sell price at $100 per share.
By the way, if one uses a cash account, the shorts cannot steal your Gale shares.
Strong buy and refuse to sell Gale shares. We will be handsomely rewarded.
Orchard3333.... Your math is not correct by today's price action... I give you are being way to conservative and perhaps polite not to revel the horrific onslaught which is soon to take place. My example.... My facts....
I placed my limit order of 389 shares @$2.44 to buy $Gale shares at the ask after 10:00 hour.
The shares are so tight my 389 share purchase of gale was broke down into 2 separate fill orders .
1 order for 89 shares the bal of 300 on the second fill. ...
People.... When a 389 share on the ask is presented on an stock of 118 million . One easily sees even the MM
Are saving their shares for the covering. I am small retail , I am long with $ gale, I hold to zero
And Yes.. MM do fear long gale share holders
Sentiment: Strong Buy
Catalysts that cause "massive" short squeezes are incredibly rare. Big professional shorts don't panic just because some bit of good news comes out. QCOR had as big or bigger short position and even after a buyout announcement there has not been what I would call a "massive" short squeeze. The short position has stayed high and QCOR continues to be undervalued.