I have to say it's very naive to think the shorts don't have an out planned. They've been shorting this stock for years, have probably churned over most of their positions (looking at you JPM). In recent times the share price need to go above $24-27 for them to be underwater yet for the past year the share price has remained under $22 or thereabouts.
We've also seen shorts cover up to 1.5% in a matter of days with no significant consequence to the share price. Kinda tells you something about their capability to execute on short notice.
Don't know how many times we've been told shorts are going to scramble when good news comes in. Sure the share price will appreciate quickly on significant news (ie vitiligo), but if the shorts lose money its pretty minor when you look at how much they've made over the past several years. As far as I'm concerned they remain in the driver's seat, and no amount of small fry share purchases and recommendations from Joe Bloggs Equity Ltd operating out of a flat above the local hamburger bar is going to sway anyone with two cents to rub together along with some common sense.
Cut out the noise, look to the results. If the vitiligo results are positive, it's time to jump back into this somewhat infuriating stock. Until then, happy hunting for better investments in the short term.
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I have to say it's very naive to think the shorts don't have an...
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Last
$14.86 |
Change
0.340(2.34%) |
Mkt cap ! $735.1M |
Open | High | Low | Value | Volume |
$14.57 | $14.90 | $14.52 | $580.1K | 39.43K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
8 | 58 | $14.84 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$14.87 | 203 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 1194 | 14.810 |
4 | 124 | 14.800 |
4 | 199 | 14.790 |
5 | 2151 | 14.780 |
3 | 175 | 14.770 |
Price($) | Vol. | No. |
---|---|---|
14.850 | 105 | 2 |
14.860 | 93 | 3 |
14.870 | 250 | 4 |
14.880 | 204 | 4 |
14.890 | 612 | 6 |
Last trade - 12.23pm 02/10/2024 (20 minute delay) ? |
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