Pilgrim Petroleum Corp. (PGPM)

[penn_e_pincher]

I wonder if it's a "short and report" strategy employed here where they short the stock and then file an SEC complaint. I'll tell you this. I was reviewing the reg sho short data and short interest swelled to 70 million shrs on June 16th. That's a day where previously it had already been coming down from a penny in prior days and on the 16th they seemed to be really leaning on this stock. They were trying to crack it -- punch through support. In other words they were not shorting into strength but into weakness. They briefly got screwed on June 20 by the June 19 after hours pr. Short interest wasn't even as high as June 16: it was around 40 million shrs on June 20th. Maybe they were actually sweating a bit. Ultimately, though, they ended up with 12 million short going into the suspension. Who knows for sure. It's interesting to follow the story. BTW, totally agree with Bama. Hope costs $0 for us existing shareholders now.