RE:What Can The Shorts Do Going Forward?Zingiber wrote: Keep thinking about the roughly 2.8 million short positions, which could become a significant positive for shareholders if the shorts are forced to cover their positions.
Wondering why they have shorted 48North? I understand shorting the, what were, grossly over-valued companies like Canopy and Aurora, but why 48North?
Lets put ourselves in their shoes. On what basis have they taken a short position? The outdoor farm investment. Industry over supply situation? Is it market makers setting up for a buying surge?
Whats actions are available to the shorts to support their goals? Is it simply negative expressions on this board?
Your thoughts?
Fundamentally, they may be trying to capitalize on the continued uncertainty regarding the outdoor harvest yield.
Technically, these shorts seemed to be a bit greedy considering NRTH has been fairly oversold on most timeframes since Sept 30th.
I think they were counting on the MJ sector continuing the weekly and daily downtrend.
Hopefully Oct 14
th marked the bottom and the bulls takeover for the next few months.
If current buyers get a little stubborn for a bit, the holders of these shorts could really move this stock up in a big way when they are forced to cover.