RE:Short interest jumps to almost 1 millionledrog wrote: Current up to Jan 15th 2016 the number was 952,900 an increase of 496,900 over the period up to Dec 31st 2016.
What is the market cap going to be in 6 months or a year from now, or two? That's a guessing game. But I can state with a high degree of confidence that the current MC of $225 million would be measurably higher were it not for nearly 1 million shares being borrowed and dumped back into the market up to the end of last week.
I figured there was a good chance shorts would at least double down....and I think there's a good chance they'll borrow even more if they're unable to cover below $4.
Bears have to have deep pockets, and like longs who get caught underwater and then use dollar cost averaging to bring their cost down, shorts can keep borrowing and dumping in an effort to depress the price in an effort to negatively impact shareholder sentiment.
I guess all that dumping wasn't with much success as the share price increased by more than a dollar with them doubling down.
Once the shares are dumped, the shorts are technically out of ammunition and no longer influence the share price. So they have to try something else.
1. Try to extend their dumping......which hasn't worked.
2. Hope for a natural disaster, that will hurt the company or sector.
3. Resort to underhand tactics, such as spreading false information about the company and sector.
The unscrupulous and desperate lot that shorts are, especially when things don't go their way, I'm going for #3.