investor, here's 26 reasons CORS is overvalued and probably worthless. Good luck with your due dillegence. Many on this board didn't bother.
i'm not even sure how someone completely unwind their short postition in this stock. Since you would have to some how buy and sell each share on that the mutal funds don't hold 5 times before they could completely unwind their position
and the number of short shares is equal to 99.73% of the float or 19.5m shares and the number of retail shares held is only 3.8million or 19.9% of the float. so there are more or less 5+ times as many shorted shares in this stock then there are retail holders
The SEC is currently in the comment period for adjustments to Reg SHO that will close some of the loopholes, and possibly trigger a squeeze in CORS when those rules take effect.
Look at CORS on the threshold securities list... been on there for a bit... with so many shares short, and so many days to cover, and such a high short ratio; it is inconceivable [given the level of inside ownership] that a substantial percentage of those short shares ARE NOT FTD's (fail to deliver).
Look at what happened to FMT, and you will see the future of CORS... it has been slow coming, but every time a divy comes due, shorts have to pony up 25 cents a share while the stock continues to tread water and trade in arange between $16-$18 bucks/share... At some point, any news report short of a bankruptcy filing (and believe me, there is absolutely no chance this company is in any danger of bankruptcy)... will drive this thing into an UPWARDLY spiraling short squeeze.
reading the 10q, the bad loans are not that many..and they are all secured loans that they can foreclose to recover value.
consider they are making 2.4 EPS this year
there are got to be other factors in to play ?
who are the shorters ?
50% shares owned by ceo and family
30% owned by funds like vanguard, etc