It's a mere 4 million shares. This can be covered easily within an hour on a day like today.
Show me another biotech (like GALE) that had a monster short interest and the shorts got rolled over.
RNN might be for real with their clinicals and technologies, worst case (if it fails) they tried to cure/slow down the worst disease out there.
Either way, works/fails - We should be surely priced higher (My guess is $1.25- $1.50) in anticipation of that "hope" factor. I wouldn't go bonkers quite yet and run this to $3 which the Roth Capital analyst said...Maybe in due time. Analyst time-frames are usually until year end or 18/months.
it would be illogical to short rnn or any penny stock for that matter. success or no, rnn's potential is enough to make a bullish case. i'm not rooting for a drop in share prices, but would certainly like to buy some on the dips, if possible. one things for certain, the bull has been let loose on rnn. any shorter could get trampled easily. it's time to be the bull and ride her, but a word of caution, she's a bull and there are swings from her kicking legs and horns. long rnn. take us to pluto and then to alpha centauri please.
Shorts are a misdirected anger obsession with some longs. Short interest is 2.7 days to cover, enough for a bump, but short squeezes of that magnitude have little lasting effect. What we needed was big boy buying and that's happening now-Bigtime. Who cares about a few shorts? Institutional buying is the key. And, of course, success with the pipeline.