With 10.5 million shares on Wednesday, 4 million yesterday and over 5 million today
You have to start to wonder how close the shorts are to being leveled out. With 19 million plus shares, they may have covered anything from 6-10 million shares. Depending on how many shares they have bought, will determine whether they are equaled out. It also depends on at what price those shares were shorted at.
Were they shorted at $4.50, $4.00, $3.50, $3.00, or $2.75? If the prices were known and how many shares were shorted at each price, then we could figure out when the shorts would be in the green and let the price go to double profits on the shares they have bought when the price goes back up.You will know when there is an article written about how the expansion of LS profits could happen.
I was trying to figure out the same thing! Won't be over till volume decreases back to normal. There weren't a lot of shares available to short a few days ago - when we were at $3.40. So now price has to be driven down so they can cover and start the cycle again or they just leave.