RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:prerolls So if I'm understanding this dynamic correctly.
if there are probably no fundamental shorts at this point - and there are only shorts who are hedged against the debentures. A win win game for them.
with 7.6mil debs left - say 1.1mil are in long hands (just a guess) leaving 6.5mil debs being played with.
6.5mil debs convert to (x3.508) - 22.802mil fire shares.
with 11.8mil shares short - they are hedging at about 52%.
does that seem about right?
Considering the short borrow cost, are they not losing money unless they are frequently covering through deb conversion or open market?
eventually with all this volume and shares turned over - this should run out of steam - debs take off and less pressure on equity?