Of course the shorting dropped. There's little left to short! any move up a few pennies is nothing more then the shorts taking their enormous profits.......surely not investors seeing something positive coming.
The question really is will there ever be a serious buyers .
I believe this past announcement stating of the "Delays" in shipments is not a 1 quarter event. It could be systemic and it may be followed by total cancellations , non-pays, and a drying up of future orders.
If another quarter or two reflects this, the question becomes whether the company can survive at all.
The distributors themselves will begin to question the viability of the company wondering whether CPST can live up to its obligations in delivering, servicing. They'll wonder whether the company has the financial capability of continuing. And lenders of course will be tougher to find while floating shares will be at tremendous discounts if they can find buyers.
I suggested the stock be AVOIDED and the analysts were not to be believed. Remember ZACK's only a month ago at $.41 upgraded their recommendation from SELL to HOLD. That was the 4th change in 3 months and the holders have paid a dear price for heeding the advice.
Watch for "Strong Sell" recommendations to pour out shortly and estimates get crushed as greater losses are now in the bag.
This past release was not a blip and while "caution" flags were up for years, this release is much more serious than cautionary.
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