Post by
Accountprince on Apr 18, 2023 1:25pm
Shorts
Does 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.
Comment by
Golferman on Apr 18, 2023 4:03pm
WOW...... talk about stock shorting manipulation at it finest. I see this dropping to $10.00 by end of week. Golferman
Comment by
harvester on Apr 18, 2023 4:31pm
Could MM's be bringing the price down for an acquisition? Feels like I got whacked in the azz by a baseball bat