RE:Shorts ..... "just betting on making a few cents during a pullback? "
So yes. MM's are doing a good job of managing this one. They NEVER EVER lose money. However, they have a common dilema. *Not many shares*. Yet they must make a market. How to win in the trading game is be a market maker and follow them.
Let me expand on this.
MM's do not have many shares - relatively speaking - because there really are no sellers here, everyone is holding and rightly so, Yet there will be buyers bidding. And therein lies the key. If they get enough interest to bid reasonably high enough, then they will sell SHORT the given number of shares required to satiate the day's interest. AND THAT ICLUDES themselves (other MMs) E.G. the run from 1.35 to 1.51 two days ago was a selling time. I sold some because I "guessed" that they would run it a bit up, then pull the bid the next day to get ppl to sell so they can buy to cover. And indeed, I bought mine all back @ 1.39~1.41. Nice tidy daytrade profit, even though I was reluctant ..
All in a days market making work. No biggie really. BUT todays buying demonstrated REAL strong continued interest. 203k short now is all MMs but still not that much .. So what to do ?
Repeat is what. they will likely RUN IT. .. IMHO .. they will have to run this substantially higher to get ppl to sell significant quantitites because as you noted their own accounts are in arrears (short) and its growing. So I think a run to over 2.00 is coming .. nothing is for sure but after all my years, thats just standard playbook. And why not? Just be sure, that if you sell in the 2.00's .. dont let it get away - be prepared to buy back ..
Just know this: This is a 3.50~5.00 stock flat out. Its a value play right now. Old School. Dont let the bots get the better of you. Hold a core, and trade a small position(s)
GLTA