ShortsDoes anyone know the short position at end of March 2023? Looks like shorts are firmly in control now as they cover their position. This storm will blow over in a few days and the price will do what it should have done...go up!
Remember why this went down in the first place? Kentucky Power deal not well liked and being acquired when interest rates rising. Slight miss on earnings. Higher interest rates and too much perceived debt especially floating rate debt. Credibility of CEO gone.
Where are we now? Kentucky Power deal terminated with no break fee. Earnings going forward appear stable. Interest rate increases being paused and poised to drop in the future. Large asset sales pending to reduce debt. CEO likely gone relatively soon.
So why the drop? Fundamentals - nope. Manipulation - yes - to assist the shorts. When they have covered - a few days at these volumes - it will then rise. Smart money would buy now instead of selling and helping the shorts.