Just checked it yesterday and it was dated 6/15. must of just got updated. Sure have alot of shares shorted for a 3 dollar stock really dont see it but to each is own. Any good news will send this flying.
<< Just checked it yesterday and it was dated 6/15. must of just got updated. >>
I had that problem too, which is why I posted the question. I was seeing June 30 short interest for some stocks but only June 15 short interesst for others, including Talbots. I guess NASDAQ doesn't update them in one batch.
<< Sure have alot of shares shorted for a 3 dollar stock really dont see it but to each is own. Any good news will send this flying. >>
Agree. However, these figures can be misleading since they are a snapshot of the situation on one particular day. If you look at TLB during the June 15 - 30 period, it started the period at about $3.00 and then jumped up to $3.70 - $3.80 in the middle of the period. That's probably when all the shorts were put on as the price then plunged back to $3.00 at the end of the period.
Since then, the price again jumped to $3.60 (short covering?) and then dropped back to $3.20 (more shorting?)
I don't understand the logic of shorting at these levels but as the article points out, short sellers now seem to be targeting the weaker companies instead of the high flyers. Essentially, the short version of momentum trading.
This could be a macro bet - market is at its highs, economy and the consumer are weak, job growth is negligible, QE is finished, etc. - so pile onto the weakest links in each market segment. This could backfire if the companies report good, or even acceptable results in the upcoming earnings season. Also, could backfire if QE3 is on the horizon - possibility being mentioned after yesterday's Fed meeting.