RE:RE:RE:RE:Short interest down to 6,303,868I call bullshit on this bromance exchange attempting to explain why short interest is steadily declining. If shorts really thought this was going to zero, they would'nt cover and miss out on over a 200% potential return. Institutional and smart retail shorts are covering slowly to avoid creating too much demand for the stock which would result in them having to cover at higher prices. The reason shorts are covering is because the company will not run out of money anytime soon and has a decent shot at turning things around. Any 200% upside from here is years away if at all. That is why shorts are covering bros!
BaytexBull wrote: Agree with you, Craigbad. Congratulations. Great Call here.
Craigbad wrote: BaytexBull wrote: Actually its too bad that the short interest is down ... I guess some closed out or closed out part of their short position probably because the last $2 bucks probably doesn't mean to much for some shorts
But I was really hoping for a violent short squeeze and I would have considered buying this POSS again ... but now it looks like like a big short squeeze its not going to happen as I think shorts still hear plan to cover on the OTC with options
Shorts sure had this one nailed
I think you'll find that most of the larger bids are just shorts scaling out, not chasing the ask. I had a target of $2-3 to cover half my position this year so half will be covered at $2.50 just to take profits. I'm sure many will ride full positions to zero, but never hurts to take profits. The company still has many headwinds and likely won't be around in its current form in the forseeable future, equity is likely to be completely wiped out.