Fidelity still holding more than 15M shares- total Institutional Holders activity for Q ending Sept. (15.4M) and yet MACK traded 124M shares in the same 3 months with shorts increasing to 15M ....this is 100% hedge fund slot machine mentality, when you see sales @ 2.4877 after hours it confirms that the public investor is just along for the ride..the good news is the large investor did not sell and hold 52m shares so now the Shortmen have a big problem, when to cover...hold on the up volume is returning very soon
this price attack has been possible because the insiders (9.1M shares) are passive investors as well as the majority of the 78M shares which were activated by the 15M share IPO in 2012...for the past four months 163M shares have traded with one goal, to benefit the 10.1M shares that have been sold short since June28. After the July proceeds stock/convertible notes MACK had 209M cash which will carry them into 2015..but the Market Cap today is 249M !! I think the same hedge fund is buying(after hours) and selling in the first hour of trading the next day...so my question is what would you rather have today MACK @ 2.44- shares long or short? .. now is the time to buy...the drop in price has NOTHING to do with the Science of MACK...but the Math of trading..
Mulroy 1.5M shares,Crocker 3.5M, Nash 1.5M and they have yet to sell any shares ..this is driven by 13M shares that are sold short because they did not like the events of July 10 ..what is going to be interesting is when they have to cover,then you see real firewoks...to the upside
now we have 13.5M (almost the comlete IPO) shares sold short which is an increase of 800K in the last two weeks..it is tough to figure why someone would short a stock at this price unless they have info that is not same as the rest of us..ONE insider purchase would be nice