Short Interest Update (spoiler alert, hardly down AGAIN)Just a quick update on the consideratble short interest in PBL. It seems to get updated mid month for the end of the previous month.
I checked the now and the short interest is only down arond 3k shares to 214.95k as of 3/28/24.
WIth the stock trading 6.35k / day covering this position would require buying all the volume for just under 34 days. The impact on the stock when someone tries to cover could be dramatic.
As the stock continues to go up and they shorts need to pay a borrow cost (expressed as a percentage of the value of the stock's price, say 5-6%) plus pay all dividends which is another 0.5% the cost of. being short PBL will continue to build the pressure.
The stock usually rallies around the quarters as more financial information comes out so that will be the next major catalyst.