The only question is how many shorts want to pay next month's distribution
As an observer you have to love it when the shorts get it handed to them. In this case those who did not sell on FRI can look forward to getting their distribution but also a $4.00 haircut in their profits.
Those shorts forgot that pigs always get slaughtered.
I had been wondering if shorts would reload after ex-dividend. Based on today's action, apparently not. It doesn't mean that another attack isn't in the cards. But, it appears that some heavy-hitter analysts are willing to speak out on Linn's behalf at this juncture, so going short is a riskier game now. If the overall motivation is to sink the BRY deal, they are going to need to keep LNCO below around $33 before voting occurs, which could be tough. I guess it comes down to how long it takes the SEC to wrap up their inquiry. Typically, they do not formally announce that they are done. In this case, I think that they will give Linn management the courtesy of doing so.