Everyone saw about 1/3 of the Short position come out over the past couple of weeks.
And the remaining Shorts can't be doing all that well. If they got Short higher, they'd be out by now. So clearly, they got Short lower and have been hoping against hope for a break the past two earnings reports.
They didn't get one last time, because the company very cleverly pre-announced, blunting criticism. And this time, they beat.
Meanwhile, that remaining Short position must be becoming expensive to maintain against the odds, particularly since there are so many places to put that Short money to work in this market - i.e. in any number of very expensive high flyers.
This one is now officially a turnaround in a sector likely to consolidate rapidly over the next few quarters.
It makes no sense whatsoever that you would waste your time here, especially if you're doing it to annoy an imagined Enemy or two.
Thanks in advance for covering expeditiously this week.