Buyers/ holders have 110% of the stock. Shorts hold minus 10%
Holders have probably purchased most of their stock at North of $7.00, with the remainder at less from the shorts.
The current holders are probably not distressed sellers, so probably won't be selling their stock at less than $7.00.
Where are the shorters going to repurchase their shares? Probably from other shorts who are selling at a higher price. These shorters have competition from other buyers.
They reckon short positions have actually increased as the price has increased to the current 10%.
Where are the shorts going to get the shares to close out their positions? They could ask the company for a 10% placement.
When judgment day comes, there is going to be a massive short squeeze, the shorts will begging to buy at any price.
Shorts get out while you still can. Buyers keep the pressure on.
STO Price at posting:
$5.00 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)