Someone posted here that they estimated short-sellers had 40 days to cover their open positions (about 40 million shares). Over the past 9 weeks holders exiting have sold just over 10 million shares. At the same time new purchasers have bought approximately 10.8 million shares. Assuming that approximately 10.5 million shares is representative of the average free float of shares over 9 weeks of trading, it would take approximately 35 weeks of similar trading to acquire the requisite number of shares to close out the short positions. Of course, that is assuming there hasn't been a funding announcement in the interim, as if so, I suspect there will be a significant share price re-rate and a scramble for shares.
CLQ Price at posting:
21.3¢ Sentiment: Hold Disclosure: Held
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