Shorts spend much funds by selling to themselves and manipulating share price and as such managed to give the share price an 8% hair cut yet failed dramatically in creating panic or even shaking weak hands as total volume was just above 1.4 million compared to average daily volume of 2.3 million; that is an extreme anemic 60% of daily volume.
well said Alan. I truly now believe we may be looking at near $5/share in near future and sooner now than people think. To me they below away all optimistic estimates and hit the ball out of the ball park by a mile. I salute the management and employees of this company who were able to provide such excellent results in such a terrible environment for oil prices and companies associated with it. for me also the cash was very important but so was beating earnings by a whopping 24 cents and revenues by $12 million. These are numbers not often seen even in good times for oil prices!
With ACTUAL numbers to look at the shorts are going to sober up and cover; and with such an small float of only 84 million and nearly 26 million shorted the share price will fly and every day it goes up more and more stubborn shorts will be forced to throw in the towel causing it to go higher and higher everyday.
Paragon continues to generate respectable numbers in the face of the worst oil industry downturn in years.
The market is completely wrong although it appears we are down mostly because of manipulation by shorts as they are panicking because they know the stock will eventually fly and they are trying their best to hold it down. On top of that the volume of only 1.4 million is near half of average daily volume and very anemic.
This is the kind of day you want to buy with both fists.
Place a sell limit order with GTC at a large price of say $10. Doing this will take your shares out of access by shorts.
The shorts have been caught with their pants down. After manipulating this stock by fear tactics, lies, made up stories, and dumping some share after shorting tons, their number is finally up and they know it.
The 37.7% of float adds up to about 28.7 million shares. And with PGN's short float of only 85 million and daily average volume of just over 2 million they'll try to manipulate again but but energy stocks are heading north
and no manipulation can stop this train.
But short squeeze has not happened yet and will not happen until we pass 3.35. Once that happens and if it holds for a day or two then shorts will seriously consider throwing in the towel and we should see a major short squeeze which should take shares easily to 4.98 within days. However in the path to 3.35 we have to first clear 2.19 following which we should have have several days of up days in a row until we reach 3.35.