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Ebix Inc. Message Board

  • bmkbusinesssolutions bmkbusinesssolutions Aug 6, 2013 2:35 PM Flag

    Shorts desperate attempt to cover before CC

    Here is my theory. CC is good, shorts knew they were going to get burned so this was their desperate attempt to "double down and cover" before the earnings. There's 33M shares o/s, 10M shares short, and volume is 7M today. I'm guessing that shorts were naked shorting like crazy, hoping that it would linger at $8, in order for them to cover. Instead, it bounced right back up bc people saw through their old reposting, and they decided to cover and cut their losses in this attempt, causing increased buying pressure, hence the exaggerated spike recovery. In my theory, I believe that short interest has overall increased today and that we're in for a massive squeeze come earnings and thereafter.

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