Post by
slimjim11 on Mar 10, 2016 7:06am
Shorts are still on the hook, waiting to buy
Short interest at Feb 12 was 1,785,329, and at Feb 29 was 1,622,458. The increase in volume was not used by the shorts to cover. To end their pain, they need to buy shares in the market. Because of the increased volume, the days to cover declined from 22 in mid-February to 6.5 at the end of February. Rising price on rising volume is considered a technical sign of strength. https://www.nasdaq.com/symbol/stb/short-interest
Comment by
Jmarks1 on Mar 16, 2016 1:13pm
Slimjim, I believe a lot of shorts may have already covered (CND) and then shorted again. Just can't see a short holding on such a large increase in share price. Almost 4% of shares are still shorted on the Canadian exchange.