"He assured me that no shares were issued to the shorters and it was the fact that they couldn't get an allocation that forced them to cover on market (hence the big reduction in shorts)."
Thanks for passing on the information. That is useful to know I believe.
A few questions The short covering was prior to the raise, so had they approached UPC prior to them seeking the raise (which was done "overnight"). Why woudl shorters approach them unless they thought they would be successful ? Did they do the raise knowing the shorters were "desperate"?
Who are the shorters? Is George confident Coby will deliver - one would think so to do raise?
How does he feel being "underwater" short term?
Some of these are rhetoric as you can't talk for him obviously.
WBT Price at posting:
$2.67 Sentiment: Buy Disclosure: Held
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