well, the institutional data and short interest numbers are finally out.
As it stands:
Outstanding shares: 79m shares
Institutional Ownership: 67m shares
Insider holdings:1.3m - 2m shares
Short interest: 23.2m shares
basically, in the near term only 9m shares are available in the open market. I am sure few million of these shares are held by individual investors.
the question is, however, where would shorts get 23 MILLION SHARES to cover their positions when only 2 to 5m available in the market.
I am seriously concerned about the mental state of shorts.
Sentiment: Strong Buy