G-Estate Liquidation Stores Inc fka GMANQ

[KOmani]

I posted this idea elsewhere, but think people here may be interested.

Rumor about bankruptcy started last Sunday (March 5).

The stock price had no movement until after article was released on Bloomberg at 2:21 pm on Monday.

Article: https://www.bloomberg.com/news/articles/2017-03-06/gordmans-department-store-chain-said-to-prepare-for-bankruptcy

What the article doesn't mention is that the company is in a quiet period. That is to say that the company is unable to say anything publicly as financial earnings are not reported to the public as of yet.

I believe that someone very likely shorted $0.30 and above knowing that the company could not say anything.

As the company has remained quiet, fundamental sellers have started to sell.

At this point, the original shorts are likely out. They made 100% profit (they sold at $0.30ish and bought at $0.15ish). They would be greedy to stay in.