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.