Now i don't know how effective a short squeeze would be on a 4 billion share float but if almost 800 million shares are short and some real good news hits what would actually happen.Nok is well positioned and beaten down.If earnings have a nice upside surprise who knows.
short interest is really hard for retail to gage. We just had the exit from the Stoxx index & a lot of shares likely were covered.
When the price is low like this, shortie is likely buying calls & selling puts. It appears to be well manipulated, so they already made a lot on the options, knowing where they were going to take it. Convertibles are cheaper too.
Then, without a heads up first, someone might end up in the Baltic for releasing surprises.
I'd guess most short squeezes are on the out of the loop hedgies & retail. hedgies go bottom up all the time & i'd guess a few might be very concerned about their current positions.
These large institutions had selected Nokia as a core long equity in their portfolios and then partially or fully offsetting it with short equity positions. Now with 4 billion short, a short squeeze is inevitable if the right news hits the waves. Im waiting patiently for this upcoming explosion, the question is when?