Actually short interest has been dropping significantly over the last two months
Those that are familiar with the topic don't just look at the shares shorted, which can be misleading, but also the ratio of those against the average volume which is called days to cover.
Back in October is would take shorts 1 day to cover
Now it's down to 1/2 day which is nothing
Shared Shorted: 98,773
Average daily volume: 197274
98,773 / 197274 = 0.5 days
If you use the NASDAQ site to look at shorting, which is reported twice a month, the last column is the most interesting one although it rounds up to a day.
If it didn't, it would show 9/30/2019 .08 of a day (~30 minutes) as an example where 10/31/2019 was 1.11 days
When looking at short shares against the OS, it's less than 1/2 a percent which is pretty, pretty insignificant.
98,773 / 23.5 M = .42%
If days to cover were 5-10 days, then that would be meaningful
If short shares were 5% of the OS, then that would be meaningful
https://www.investopedia.com/articles/01/082201.asp
Those that are familiar with the topic don't just look at the shares shorted, which can be misleading, but also the ratio of those against the average volume which is called days to cover.
Back in October is would take shorts 1 day to cover
Now it's down to 1/2 day which is nothing
Shared Shorted: 98,773
Average daily volume: 197274
98,773 / 197274 = 0.5 days
If you use the NASDAQ site to look at shorting, which is reported twice a month, the last column is the most interesting one although it rounds up to a day.
If it didn't, it would show 9/30/2019 .08 of a day (~30 minutes) as an example where 10/31/2019 was 1.11 days
When looking at short shares against the OS, it's less than 1/2 a percent which is pretty, pretty insignificant.
98,773 / 23.5 M = .42%
If days to cover were 5-10 days, then that would be meaningful
If short shares were 5% of the OS, then that would be meaningful
https://www.investopedia.com/articles/01/082201.asp
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