The amount of short positions held as a percentage of total shares has increased by approx 1% since January (from about 11M to 15M shares) not total short sales.
Agree with your thinking if shorts start covering there positions, which would create a hell of a price rise covering 4M shares with the amount of liquidity this stock has. But for shorts to be sold they need to be bought first, often resulting in a share price increase. Look at the chart in the link above. And notice how total short positions increase with every potential breakout during this downtrend.
Not trying to scare at all, I own this stock and have a long position. What’s the point of a discussion thread if everyone just posts what they want/wish to be the truth.
NCZ Price at posting:
92.0¢ Sentiment: Hold Disclosure: Held
