Feels good to be vindicated, but I think its too early to celebrate. I think safer until we get all clear from the Berry deal. Never would have guessed we have an 8% turnaround day today. Feel bad for all the confused folks who sold out because they were too scared of 1-2 "questionable" media sources. I found it weird it had never occurred to them that you have these strange severe down days over several weeks on no news (no counting the "questionable" sources), and they think it cannot be some ulterior motives by hedge funds. They actually believe just because the share price went down.
Drop start at the $38 range, so those who were short still have a $4 buffer, not counting the momentum shorts who just jumped in recently and got burned. I think Hedgeye made a very dumb mistake by announcing the CC to prove their case....the whole world knew about it, and other funds find an opportunity to make a killing the other way by squeezing HE's clients' shorts. They were better when they kept it quiet to create continued confusion to force retailers to sellout, which most already did.
Yeah, but they've worked awful hard on this, so I wouldn't call the effort dead quite yet. Let's give them another chance, I'd love to trade this some more.
On the other hand, I doubt there will be any kind of rapid "short squeeze" to push this much past $35 any time soon. I'm sure the shorts have hedged their positions, because in the end I doubt they really believe their own thesis. They were just hoping enough smoke could be generated to block the Berry deal, causing a temporary drop in the LINE unit price. That effort may have failed, if the price holds.