The short position as of May 30th was 266k (currently on yahoo). In all likelihood, the drastic change would be because of one company. Perhaps a hedge fund? On a $3 stock? Why? It is even more puzzling when you factor in that net institutional ownership went up 7% from 12/13 to 3/14.
Come clean Wforte? Is it you?
The latter.... the shorts have complete control over this stock. Can you imagine what will happen when this turns profitable? 3,000,000 shares short & counting? Someone just picked on the wrong stock. Get back to me next Wednesday.
be a defining moment for Cidm. If the report disappoints, the downward momentum will obviously continue. However, if the report is excellent, coupled with the current short position, this stock will be on its way to a new 52 week high.
Sentiment: Strong Buy
I would say no and the 2.8 million short im sure would agree as well. would like to know the source of the rumors....thanks
It's obvious to me that when the news hit about the incredible increase in short interest, people got nervous. Keep in mind that the volume is now currently low. Negative momentum is holding the stock back. Until something positive can turn it around, it will go nowhere. What will that be? The next report. When it's time for shorts to cover, it will be ugly. Actually, when I consider the magnitude of the shares currently short, I'm shocked that the stock is still trading over $2.
During the fourth quarter, Cinedigm successfully completed an underwritten public offering of 11,730,000 shares of Class A common stock, inclusive of the full over-allotment option, at a price to the public of $2.70 per share
Cinedigm Corp Short Interest Up 800.8% in July (CIDM)
July 25th, 2014 - 0 comments - Filed Under - by AliciaHerrera Herrera
Cinedigm Corp (NASDAQ:CIDM) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 2,172,779 shares, a growth of 800.8% from the June 30th total of 241,207 shares, American Banking & Market Newsreports. Based on an average daily trading volume, of 340,474 shares, the short-interest ratio is currently 6.4 days. Currently, 3.2% of the shares of the company are sold short.
Taking the loss attributed to discontinued operations last quarter will set up this quarter's result to be, in my opinion, one of their best ever. Assuming CIDM will offer more good things to come in the next 2 weeks, $3 is certainly around the corner.