Funny the shorts said nothing when MCP was up on down day
"On the day it tanked 5 percent from 67 to 62, everyone screamed SHORT IT SHORT IT SHORT IT. Next day it rallied big and has kept going up pretty much ever since"
Wrong! After hitting what was then it's all time high in mid 60s, it tanked back to $40. I guess you forgot about that? Then it was sitting in low 40s when CEO went on his pumpathon on CNBC, and it jumped $8 in one day, and ran to 70s in a couple of weeks, where it sits now. However, today, with a huge market rally, where this, being fully shorted, would "normally" jump $4 or $5, it is sinking, and hasn't had it's usual rebound that has been the pattern lately. They short it at the open, knock it down $2, and then buyers come in and take it back up. This time is different. There are no shares to short, a huge up day, and this has not come back on short covering like it has been. Hence, I believe the pattern is broken, and it continues to drop from here. Remember: lockup is coming soon, and CEO is dumping. Why would he do that if he thought this was heading much higher?