What can the Shorts KnowThe shorts can only know so many things: They know what the rating agencies have said and may believe that ALA will not get the ratios to where they want them quickly enough or they think the market will react badly to when new hybrid debt is issued or they may be doing an arbitrage to hedge their risk short one stock and long another but I think their days are numbered because there is precious little they can know that we do not debt is public, pipeline delays, ship arrivals so I think the bubble may either burst or leak slowly.
I do think that so many got burned and tried to double down that there are still a lot of retail investors who keep trying to get out each time the price moves up a bit - which delays the eventual price rise. So few shares traded maybe the shorts think there will be a general market collapse and that will be the time to close out - but utilities are pretty safe unless there is a full scale depression I expect 20 this year for sure and 24 next at least and if all goes well 28-30. GL
PS What would really kill the shorts would be a surprise dividend boost,,,