The "shorts" situation certainly puzzles me. Especially if they...

The "shorts" situation certainly puzzles me.
Especially if they are operating on their own account using borrowed shares.
Yes we "longs" are punting on success at Samo, as opposed to the "shorter", ostensibly punting on failure.
However given that Samo is given a Cos of 50% roughly, it still isn't an even bet as the downside is less than the upside, I believe, (look at CVN).
Never that simple of course, but you get my point.

Thing that I will add though is that while the volumes are low, I still believe that the shares are moving to long term holders and are so being taken off the market.
As such the Register continues to "tighten".
The "free float" gets smaller.


This of course skews the equation further as a "shorter", would be required to cover in a "tight register".
All to complicated for me.