RE:Level The Playing FieldIt does appear that the shorting done for the last 2 1/2 days averaged $C 11.75. The initial covering activities started at 1 pm today and we might just see a spike. Probably not a stampede because the shorter will try to avoid that. However, they will some work challenges to keep the price below $C 11.75 because there are many more investors in VMD than previous times that they tried a shorting spree.
Many investors fear a bubble in their holdings with high PE ratios. VMD is not at a high PE when compared to others. As investors cycle their holdings, VMD is an eligible undiscovered gem for a long term investment. They end of buying and parking their shares. In the US, these investors are not interested in short-term gains because they are taxed at a higher rate than long term gains.
The tax loss selling in December 2020 brought VMD to just below $C 10. So far, this time, it did not break below $C 11.20 in its decline. One shorting strategy is to cover sufficient shares only to short again so it may not be over. However, shorting at these levels is much risker than when it was at $13.
So far, VMD appears to have more solid foundation than the algorithm driven shorter's planned.
Some cross trades appeared 200K at $C 11.41 and 265K at $C 11.44 mid-day today so perhaps the aggressive selling has stopped.
As long as unlimited shorting is allowed, deep pockets rule the day.