Why do they have to? What if they see lower prices to come? What if the short sellers have the same conviction as those that hold the stock? They are long term short and expect/hope more decline and the advantage they have is that unless they shorted in the last 2 weeks then they are nicely in the money. I guess that's what makes a market, some see it going up and some see it going in the other direction.
As for the sell queues, they mean nothing. Some fresh bad news and watch it change at drop of a hat, ie they are not set in stone and can change very quickly, as I'm sure you know.
Short positions of that size in any stock have rarely been wrong and have been right so far in this stock. Before someone points out a stock where shorts were wrong, let me say that those are the exception and for every 1 of those there are 10 where shorts have ultimately been right.
GXY Price at posting:
$1.06 Sentiment: None Disclosure: Not Held
