With so many large Tute holders, and assuming it makes no sense for them to short their own shares, where does the seemingly endless supply of shares available to borrow and short come from? If they aren't real (naked) then one would think it might be relatively easy (hypothetically) for a major holder to trigger a squeeze (if they wanted).
Good point about (professional) shorts knowing they had / have time to cover. I said on this board a few times last year that the "Business Update" last June-ish was basically a signal to professional shorts that nothing meaningful (in the way of cash or clinical results) was coming in the next 6 months or so. So the relentless shorting started and has almost never let up since then.
At some point it will turn, and when it does I expect rapid and significant moves upward to better reflect what the true potential is of the PPS.
ADXS just needs to deliver something major in the way of starting / completing a Phase III trial or a major BP deal, and the PPS would triple or more in short order.
For real. There is no real selling in volume. It's machines selling tiny blocks back and forth hitting the bid. When the Tutes and MM's get the insider signal that major news is coming, or hedge fund desks get the signal that "risk off" is over and "risk on" is allowed again, they will flip the Buy switches back on.
I don't know DOC, so I don't want to be in the position of constantly defending him. But over the last 3 months even if ADXS had gotten SPA and never had the Hold, they will still be selling near the current PPS.
Everything got sold the last 3 months in a risk off machine driven selloff. Everything in Biotech crashed, it was historic going back 20+ years. Even JUNO got crushed and they got a $1B dollar investment from Celgene.
So if we are going to blame DOC, I do think we should try to maintain some measure of intellectual honesty about his performance as it relates to the current share price. JMO.