The short volume has been above 50% almost every day during the past three years, often above 70%, i.e. 7 shares have been sold short for every 3 legit traded ones. Recently, the short volume has been above 80%. High short volume correlates with increased short interest, with a correlation metric of 0.45, which is significant. A consistent short volume over 57% should result in increased short interest. Some analysts estimate the true short interest to be above 950% of float, i.e. the short hedgefunds/marketmakers would need to buy the entire float 9.5 times in order to close their short positions. Buy, hold, DRS and book your shares. Set your own price target come MOASS, mine is $40M/share.
Comments