Told you on Monday that it will be closing over 29 by Friday
Over $35 by Jan.7, 2013 and over $45 the day after Analyst presentation on Jan. 10. Any good news of adding new product which they are planning such as natural body building products or Whey powder will pump this to another $5-$10 more. Not including 20 millions shares Ackman buying to cover.
Short covering means buy the stocks that you don't own and return to borrower in future. HFL has around 22 millions shares allocated for short selling. Ackman said in his PPS that he is shorting 90% or 20 million HFL shares. This mean he has to buy those shares back some time in the future and return them unless stock goes to zero. Rest of the shorts are buying and selling other 2 million short shares. The more short shares will be available only if Ackman cover his short position. I doubt it that this will go to zero. Until that happens, Ackman has to pay his interest for $1 billion. And there is a time limit for borrowing. He has to return those stocks in certain amount of time. Clock is ticking for desperate Ackman.