Obviously disappointing preliminary numbers, but I think we knew that. More shorts are adding. Not all of them will make it out. More financing will help push off any liquidity issues. To me these numbers are another step closer an arbitrage event. If very in demand assets are not being used very well someone else will pick them up and use them. I won't add anymore unless PPS goes below my last buy at $4.80. and then not even sure, I'm trying to keep my cash pile dry. My thoughts in this name are still the same though.
Im a pretty debt averse person myself and I just dont see how adding financing, which is essentially debt they will have to pay back with interest, is a good thing. Especially knowing they have a couple billion cash on hand. They didn't say what this would be used for huh?
I thought about being patient and adding more if it goes under 5$, but only Lord knows if it breaches that level. To me, 5.82 is "good" enough for any arbitrage value play here.
Did you see short interest dropped by 2 million? Of course it will be back 2 million and then some after today. So perhaps over the upcoming 2-3 weeks, this thing could go under 5 again...