It's not the shorts....It's the management that has been buying garbage assets, jacking up the price and the writing them off way too early as generic competition swoops in to deal with price gouging.
Now, they have a cash issue.
Are all long clueless as to what the Senior Notes being issued will do? They are selling the company through the back door and you are ignoring this.
Bondholders and shareholders are all going to become bagholders as this gets pushed into bankruptcy. If insiders held shares, I wouldn't worry and would be bullish here but the last remaining one has been dumping shares via a pre-arranged agreement not fully disclosed! And when the sale happen, they are now being reported late. That's against the law.
Why is it so obvious to some but hard to understand for all the longs here?
And you can bet that within an hour, all these speculative longs will bail before the Canadian long weekend. And if you don't, watch what happens Monday when CXRX trades and CXR doesn't. You'll see a gap down Tuesday on CXR as a result.
There is no volume, no momentum on either CXR or CXRX! -4% and no volume. I don't see any big buyers just sellers.
Don't hang on to hope, find facts.