SPF Is again "HTB" I checked the Shorts are holding some 35,949,000 Shares! 30.89% of the Float!!!
It would take them 6.9 Days to cover it all! Housing numbers out Monday, Tuesday and Thursday of next week. As far as I know Sales are very very good. I fully expect a Bump of 9 next week as they try to cover with Great Housing News coming out.
there are a lot of hedge funds who will short the stock, then use the proceeds to buy the convertible debentures -- when/if the debt gets converted to stock, they can cover the short... so it exaggerates the short position in the stock. Naked shorting is a different story.. but its hard to know who's who.
Hard to Borrow meaning the shorts have shorted all they could and there are no more shares to borrow for shorting. when they have a rise in the price the will buy shares to cover their borrowed shares it can be very entertaining however I think a lot covered at Fridays end