I don't think they have much payback coming. Most
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Posted On: 08/01/2018 10:26:48 PM
I don't think they have much payback coming. Most of that legal short is likely against the box.
It's probably a gang of longs made up of people with a core position (say 1M shares) and they short 200K shares when it's high. Then they work the boards bringing it down, cover, then put on a happy face until it's high enough to take a short again. With the swings we've been having (amidst the overarching 85% decline from the high) there is tons of money to be made.
If we get a deal that sends us to $10/share they just sell 200K to cover from their long position and enjoy the blue skies with 800K shares. No risk there.
Anyone without a hedge here is foolish.
It's probably a gang of longs made up of people with a core position (say 1M shares) and they short 200K shares when it's high. Then they work the boards bringing it down, cover, then put on a happy face until it's high enough to take a short again. With the swings we've been having (amidst the overarching 85% decline from the high) there is tons of money to be made.
If we get a deal that sends us to $10/share they just sell 200K to cover from their long position and enjoy the blue skies with 800K shares. No risk there.
Anyone without a hedge here is foolish.
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