Some rough analysis from shortman.com and the historical share...

Some rough analysis from shortman.com and the historical share price….

1) Between Aug.5 and Oct.10, shorts increased (i.e. borrowed shares were sold into the market) by approx. 28.5 million shares. In early August the market went into temporary free-fall after some bad employment numbers out of the US. From memory, my portfolio was down $50k in a day (which is a lot for me).

2) Closing SPR share price at Aug. 5 (first day shorts began increasing was $1.11, low for the day $1.09. On Aug 7 we dropped to $1.03 intraday. So this carnage directly lines up with the start of shorting campaign.

3) Shorts max’d out around Oct.10 when share price was at $1.25. In the period between Aug.5 and Oct.10, the share price did spend some time in the $1.30s, up to $1.46 on Aug.30.

4) Obviously, I can not know exactly at what prices the short sales were made but high is $1.46 and low is $1.03 over that period. Simple average is $1.245c. So, average price at which short sales were made, I am saying is $1.245.
Let’s be a little more conservative and set that price at $1.30.

5) On Oct.16 there were still 20.372million shares shorted. If still held, those shares would be under water to the tune of approx. $6.5million! (($1.62-$1.30) x 20.372million)
I’m guessing, the shorters have been buying back frantically the last few days (thus the move in share price to $1.62) as POG continues its ascent and reports of frenzied buying from the little guy at Costco all the way to the Central Banks continue to surface.

All we can hope for is that the shorters are having a hell of a time finding the shares to buy back.