RE:RE:RE:Short squeezeI agree with those who have already posted that the amount shorted before the announcement is astronomical and one can only speculate that someone knew something before the rest of us did.
It has been suggested here that how can anyone cover that level of short position without positively affecting the share price. I have seen this once before in a mining stock (B2Gold) back in 2015-2016. After B2Gold bought the Fekola project the market sensed a need for financing and pummeled the stock price by more than 70%. The CEO only later confirmed that the bay street vultures were encouraging them to do an equity raise and they chose a different route after the sharp price decline which forced the shorts to cover and the stock regained all its lost value.
When bankers sniff an equity raise they start shorting the stock because they know they will have a supply to cover said short. The more they short the lower the price and the less a company can ask in a financing. Sweet deal when you can play both sides, if you are a banker!!!
So, if the company does an equity raise or a convertible debenture, it basically guarantees the shorters an easy profit. If the company takes an alternative route, then the shorters don't have the supply and the trend reversal begins. I'm hoping the company doesn't give the shorters the chance to lock in an easy profit at the expense of existing shareholders.
Only time will tell.
GLTA and Happy Holidays