Near 75% of the volume yesterday was our shorter again. Likely selling to themselves to try pull out and scare some sellers and create some liquidity to cover their 2+ million shares outstanding - it doesn't seem to be working well for them yet....this could set up to be rather bullish because when shorters have control and can not drive lower then they in effect lose control. We await buyers to step up now with confidence.
If the premise for the short was based on recent DRC gecamines or Elon's comments then its a pretty shallow and misinformed drive imo - all the negativity baked in now and ready to reverse? Note the initial short started by capping the attempted break out from 37c. An illiquid stock can be controlled pretty easily (for a period) by a large volume insto/broker etc. Again it will not work unless they can suck out sellers - which I would think their move is nearly dried up as they are finding the register really is >90% held tight. So far they have thrown down +2M short and sucked out <350k shares at best. I note the ask side has evened up its orders to round numbers - perhaps they read HC. If they struggle to gain any further traction then how they get out will be worth watching.
