GREY:XEBEQ - Post by User
Comment by
tamaracktopon Feb 25, 2022 8:58am
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Post# 34460887
RE:RE:Could they possibly
RE:RE:Could they possibly It is indeed very risky to be short at these levels, although the shorts are risking paper profits.
Neverheless, nobody likes to watch their unrealized profits shrink or disappear, as all here who
have watched the stock drop from $11 know all too well.
The volume yeaterday was historic, by very recent standards, and although a positive close would have been nice, the 11% reversal off the low was technically significant.
No doubt some short-covering was part of it.
Yeaterday I mentioned that there were large numbers of people who threw in the towel and sold stock "en masse".
Short-covering sometimes begets more short-covering.
There are currently 9 DTC for the shorts.
9 "days-to-cover" based on recent average volumes.
It's very likely the shorts will soon join the buy-side of this auction as opposed to the sell-side very very soon.