Good news, shorts are covering.Not really news, it can be seen on the trades. For the remaining shorts, get a clue and buy some shares! ;-) LOL
Posted today
https://www.streetregister.com/shrinking-short-interest-in-3-nasdaq-stocks-concordia-healthcare-nasdaqcxrx-discovery-communications-inc-nasdaqdisck-qlogic-nasdaqqlgc/2511263/
Concordia Healthcare Corp (NASDAQ:CXRX) short interest dropped about -46.8%. According to wsj.com, some 758,873 shares in the stock were short as of 10/30/15, down from 1,427,424 on 10/15/15. Short sellers borrow shares and sell them in the expectation of a price drop, after which they buy them back at a lower price, return them to the lender, and pocket the difference. Shorting is also used as a hedging strategy.
The company’s days to cover, which is one way to measure a company’s issued shares that are shorted, remained at 1. Based on the average trading volume of a stock at 870,965 shares, it measures how long it would take all short sellers to cover their short positions. The share price has down about -29.50 percent in the past five days and has been trading in the range of $28.48-$73.23 over the past 52 weeks.