Athabasca Oil Corp T.ATH

Short Covering?

[Valuecan]

I was just looking at the short history on ceo.ca website.  It was surprising to see the range of short volume.  From as low as 2m shares in 2021 to a big jump to 38m shares short in early 2022.  Currently still over 30m short but starting to reduce.  The quick jump in 2022 makes it seem like their could be relatively few very large shorting entities getting a bit uncomfortable with trans mountain coming on.

[lnggasfor202324]

Thats good I hope they get punished good.

[lovehockey]

These are fake washtrading shorts.They borrow shares and sell it to "themselves". They can always cover. I wouldn't pay attention to that number at all. 

[lnggasfor202324]

Do you know that for a fact or are you just talking through your arrrrzzz

[Maxmoe]

Covered this multiple times. Those shorts are tied to the debt refinancing. The debt holders received warrants at around $1 per share. They didn't want to put up the $1 per share and sell the stock in the market for whatever reason. So instead, they "locked in" their big fat profits on those warrants by shorting the stock. When the warrants expire later this year, that transaction

[Maxmoe]

In other words, a "nothing burger" hold the bun.