RE:Short positions with SP at $2.70 Investors shorting Nano One have the same information as we do about Nano's near-term prospects. In a worst case scenario, investors shorting Nano One potentially have access to more intel than us average retail investors long the stock. 600k shares short Nano One and not covering at $2.70 is concerning considering the timeline we are all expecting for Nano One to realize first revenues.
As I have previously mentioned, I trust a significant macro market pullback (e.g., 10% pullback on NASDAQ) would result in Nano One seeing new 52-week lows and maybe worse. This would likely occur independent of any good news from Nano One.
Perhaps the investors short Nano One are banking on this macro market pullback event. Buffet and Michael Burry are certainly positioning themselves for such an event and so it would be foolish to rule out this prospect entirely. Even good news from Nano One (e.g., first revenue) might be overshadowed if a major market pullback occurs.
The good thing is as shareholders, we are not necessarily on the clock and could just wait out any macro headwinds. But it would certainly be disappointing if we don't see some bullish Nano One share price performance in 2023. And devastating if any poor share price performance extends through 2024.
good luck to all the longs.