Pilgrim Petroleum Corp. (PGPM)

[penn_e_pincher]

Good find, Bama! It's not exempt shorts, either. I believe that means it's not necessarily shorts due to market making activity. It could be retail shorts, although it is very costly. I've read that a broker could demand $1.00 or more per share to cover penny stock short positions. That means $8 million to cover an 8 million share short position with a max potential gain of $48,000. Then again, market makers don't necessarily have to be naked short and don't need to put up that much capital.