Yep, this update is a bit of a snoozer. No meaningful movement, still sitting at 35M shares short. Pretty interesting how impactful the moves have been. For example, in the previous period to this we had a nice move down, at the same time the PPS rose to $5.19. Nice correlation. As positions are covered, PPS moves up. Not surprising that in this period the price has languished well below $5, and we see that almost no short covering took place. The clock is ticking and not all the short positions are expecting poor data. If anyone has the algorythm that can determine exactly how timing, position covering, data catalysts, and available shares compute into PPS, please enlighten us, as they are all in play.
If they were truly short and tried to cover, the stock would move up dollars. Why? Nobody would be selling, and that average daily share volume would have absolutely no meaning. Fact is, any substantial good news, and this will move up dollars and any naked shorts will be caught. As for the trading volumes. It is mostly a mirage anyway.IMO Manipulated and controlled is the word here. There is nowhere near enough shares to cover this short interest. Looking at it another way, the short position is already big, where are there any more shares to short??? Risk/reward is terrible for naked shorts here. Get a core position and just wait. Big dollars not that far away. Trade on their manipulations, as iterated here many times.