Increase in short position - partial explanation?Over the past 6 weeks, EGLX's short position has increased 50%. My thought is that the firms participating in the recent financing sold short in advance of the financing closing, ensuring they wouldn't get stuck with an inventory of stock if they had any difficulty selling the offering (which they didn't). Further thought is that as EGLX continues to accomplish its biz plan that the short position will decline. When I took my initial position in November 2020, I believed this stock was worth $10 on the basis of private company comparisons. Since then the company has completed a number of significant transactions and listed on Nasdaq. I hate what's happened to the share price these past 2 months, but still have full confidence in the company's plan. Most other pubco comps are pretenders and are taking full advantage of EGLX's success. Good for them. EGLX remains the best company to own in this space, IMHO.
https://shortdata.ca/stock/EGLX.TO