Instead of picking up the phone and calling their account manager to confirm what's going on these clowns would rather go into denial mode and name calling. Pathetic. Where do they think the 60+% short positions are getting the stock to short?
Someone(s) out there obviously are confident that the bottom is going to fall out. When the price was in the $30's 15%seemed crazy high, at $18 I don't have words to describe a 15% borrowing rate. And if Fidelity is paying 15%, the borrowers must be paying them 20?
islb3 has been long and short and always realistic, but not always correct. At present I have a small long position awaiting earnings.
It's going to be about 2016 guidance The new acquisition will impact negatively and unless they sign some deals to make up for the $50 mil nonrecurring from Rabo that sub $10 stock price being thrown around is very possible.
Think Q3 results will be non event absent a mega surprise in one direction or the other. And where there have been no announcements of meaningful new contracts I can't see an upside surprise.
With the shorts holding firm a miracle is needed to reverse the trend.
You've made the point. It's what we retails suckers don't know that becomes costly. When all the logical public facts say don't short and there's a huge short position in spite of that, that's usually the signal to run like hell.
In the $30's it was clearly overvalued, but here it makes no sense other than to those in the know.
Friday afternoon jitters from some smaller shorts. Some can have a near double on their position so taking some profit is prudent, just in case. Predict if nothing has changed by monday morning they'll get to hammering it again....if they can find shares.
In Fidelity's case, as pointed out by another poster, they were a major holder in VDSI. They have now abandoned the long positions and gone short.
Clearly by holding such a big long position they were privy to what's coming down the pike, or at least a lot more privy than anyone here. If they're still on the short side and clearly they are, there has to be something awful coming. Stocks don't drop 50% on account of the ambulance chasers going after them.
I agree with you 100%. What they (Fidelity) is seemingly doing is planning on shooting their customers in the head and asking the customer if they can borrow his gun to do it.
I didn't think they were this bad, but apparently I'm wrong. They're seemingly all the same.