Great Basin Scientific Inc. (fka GBSNQ)

[christjamin]

This was "dream come true situation" for short sellers. The company telegraphed they had to reverse split in order to dump 88% of company O/S. To make matters worst, the company issued an 8k stating dumping would be done in 25 trading days. So they added juice to the cake they handed to short sellers. Anybody who expected anything different is either in denial or has no clue. I don't short stocks(I believe it is destructive, it destroy people's hard work), otherwise I would have.
Soon as the R/S was effective, the shorts attacked and shredded the pps before they had time to convert.
Now the management is probably stunned. I don't believe there was lot of conversion on Friday. This downing of pps is taking the number of common shares for conversion to new levels, the management just realized the obvious.