vero, chill... We already knew "someone" is/was shorting NEOM. Now, that person, TP (for short (loL!)), can't "naked short" the stock but his broker buddy can for him.
You see, NEOM has a history of popping then tanking, so it's only natural that the "shorts" would play that game again. But, as BC summized, he's most likely straddling his position because being 100% short now does appear to be a very big risk.
This past week was very telling, IMO, because it's the first time in a VERY long time that NEOM has broken that trend and it's now trending up. And, as the saying goes, "the trend is your friend". As JP and others noted (and I agree), it appears that YA has decided this time to hold for higher and not dump on the parade just yet. If that is indeed the case, my friend, it speaks volumes because essentially YA owns NEOM outright and therefore they would very well likely have inside information that dictates their moves. If they're holding now and waiting then they know something's coming - and coming soon - and if I were a prospective buyer (I'm not prospecting anymore ;) I'd seriously think about doing the same.
It's a (sub)penny stock and that's par for the course here (NSS). A stock will always have its doubters and vultures, it's natural, so I wouldn't sweat it.
Think of it in the positive light...if/when big news comes out this stock can easily shoot over a penny and possibly to 2 or 3 cents just by buyers coming in. Add in the shorts (naked or not) that will be forced to cover (unless they're suicidal...haha) and it can push that 2-3 cents up to easily 5 or 6 cents. At that time, if the news is concrete evidence that the "candle is indeed lit" those shorts that covered will, IMO, most likely hold for higher gains to recoup some of the losses they would've just incurred.
Then, we know the drill, they'll sell, repeat the process and such is why stocks never go straight up.
Relax...it's shaping up to be a beautiful weekend. :)
lns
