My take is we are having an (obviously) low volume shakedown back to around our 50 day moving average. There were a few trades in the 5-10k share range but almost all are 1000 shares or less all between the usual suspects. In the context of the last week, I view this as complete bs trading and therefore anticipate the reverse should ultimately prevail. Time will tell. We didn't go up solidly only to get smacked down on 150k shares...
Candy: nothing will 'scare' a real short but buying power. That said, a dividend must be paid by the short and that makes it more expensive to short. Additionally, naked sales must also be paid dividends on. Gets pricey.
And that doesn't count the phantom shares shorted. Likely 50% or more than that. They will continue to pound away because they can. We need a major street sponsor, buyer, or dividend with revenues. Buying shares on the street is nice but dividends are the better way to make shortie puke on his Ferragamos.
Depends on the buyer. If it's acquired by a private company, shorts can be totally screwed and the stock can go much farther--no way to know the final number. If it's acquired by a public company, they can morph their shorts into the new company and NEVER cover....for example, MDT.
Not exactly low volume but most of the carnage was done earlier on low volume. My take is someone has a pressure point around 10.50 for the end of the month and is making sure it closes below. Would be interested in the thoughts of others as well.
What an amazing vindication for the company...I was told these events can drag on for a year or two. I guess it's 'elevator up, up and away'. What great news!
Pac--everything after the first few minutes has been, in my opinion, shorts trading amongst themselves. Scalping pennies here and there. Watch the close...as always that will tell the tale. You'll know we're in for some fun next week if it recovers or advances at the end of day.
Applied 8/14, issued 3/15. Now THAT is incredible--I've been thru that process a few times and never been reviewed within 18 months, let alone issued. Speaks to the dearth of IP in this field.