SUNE re-issued itself last week. The entire number of shares were traded between 4.46 and 5.60.
I Assume this range becomes the new basis for the stock. Lots of shorts did not cover yet because of tax purpose.
It all depends from the guy who went to jail. If he can hold to his 75% stake without selling, shorts are in bad shape. I have seen pink sheet traded stocks go up to $400.00 per share.
It will gap up tomorrow. Open at 5.50. 65% of the float was traded today. You know what that means.
This is how it goes. When a stock moves up more than 10% on extremely high volume with no news you sell. When a stock drops 20% on record volume you (x-cluding BK news you buy.
If a stock goes up big on an unusually high volume, it gives some back. I would be more relax, if this move up did not come with such a high volume. Contrary to the technicians High volume is not always positive. It creates peaks. the opposite happen on the way down. Study some charts and you will see what I mean.
I do believe him. Short interest is not 120 mil any more. You do not have to be a rocket scientist to know that. If longs had all their shares to cash, you could have a similar to KBIO short squeeze.
Still stocks that act strong the last ten days of the year become big winners for the following year 90% of the time. Insiders bought a lot at 9-10. You will see that price again next year.
out of every penny they have. The first day of the come back alone the debt holders who are 97% owners got back 1 mil dollars out of some new no so smart(fooled me once fooled me again) buyers. A slow way to recover some money out of a dead company. Nobody else would have given a penny for their assets.
My old shares are worth 12-13 cents. If the 1.4 million shares held by Soros represent 7.02%, then there are 98,280,000 outstanding. It looks like the old holders are left with 2948000 shares or 3.1% with a value of 4.04xo.0.031= 12.5 cents. Oh what I know. I am a confused old man.
My point is not to pay attention what that luni says. As a matter of fact you can make money going against the recommendations of his.