RE:RE:RE:RBC Initiate CoverageWell, we now know who was behind the increased short volume starting late February.
https://shortvolume.com/?t=vmd
It my opinion, it was the Zacks folks who are now seeking to cover their short. Zacks just issued a sell rating on VMD. https://www.marketbeat.com/instant-alerts/nyse-vmd-a-buy-or-sell-right-now-2021-03/
In my opinion, their methods are self serving.
Step 1: Short the stock before and during financial reporting.
Step 2: On the day of financial reporting, short even more if the stock goes up.
Step 3: On the next day, short more until it drops and then start covering.
Step 4: On the next day, push it down more to try to eliminate momentum.
Step 5: Once it settles, cover slowly.
Step 6: If shorts are losing money, in desparation, issue a SELL rating.
Recently, Zacks did this to CVE. Someone had been losing on their shorts and in desparation issued their sell rating on Feb 12. CVE promptly rose 20%. Shorts covered at a loss.
In regards to VMD, Zacks issued a BUY rating Oct 21, 2020 and the Zacks followers lost money because VMD missed Q3 expectations.
Now we have seen someone develop a short position. Then VMD exceeds Q4 expectations significantly. Beacon raises targets and RBC initiates with an outperform rating. Oh oh...the short position is in trouble.
I am thinking Zacks is as wrong with their SELL rating as they were with CVE.
Time will tell! GLTA.