VAPE is on the threshold securities list. Has had a fail to deliver position since at least Friday. How much of the action today was short positions that are covering?
"Pursuant to Rule 203(b)(3) of Regulation SHO and FINRA Rule 4320, a participant of a registered clearing agency (i.e., a clearing firm), that has a fail to deliver position at a registered clearing agency (i.e., National Securities Clearing Corporation) in a Threshold Security for 13 consecutive settlement days must immediately close out that fail to deliver position by purchasing shares of like kind and quantity. "
Today's short volume 1,338,247 shares or 22%.
Total volume 6,112,607
4.5mil shares went through on the sell side of the spread. It appears that a substantial portion of those shares were probably long purchases at the lower price of the relative orders. The other sign of big accumulation was the extremely tight trading between .22 and .23, where about 85% of the volume occurred, on a day of higher than average total volume. Today, as it might have appeared rough, was full of bullish indicators. My guess is that at least 4 million shares were bought today, with many of those shares being shorts that are now forced to cover, will be forced to cover soon, or that are covering due to the strong indication of upward sentiment.
AI
