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Monday, October 23, 2017 7:37:02 PM
But you have been consistently wrong here. I'm sorry, but you have. Not as wrong as some, and some of your data is correct, though the assumptions you draw from the data is not. But you are on the wrong side of this trainwreck.
I have not been hyperbolic. I have not said, and do not believe, it is "almost over." I've not said nor do I believe this will be delisted (ultimately, it will be de-registered, which is different and worse, but not soon). I have not said anyone has been arrested on securities fraud. I too rely on data.
But blaming this catastrophe on shorts, and thinking that if only there was news there would be some magic short squeeze belies basic logic. A short is a risky play. You have limited upside (from the current price to $0.) You have unlimited upside. So why would anyone short a penny stock? And I mean a stock trading at $0.75, let alone one at $0.0001. What upside do you have to justify that risk? And why would you short a stock at $0.0001?
Let's say you shorted this at $0.07. I wouldn't. Not enough upside to justify the risk. But let's pretend. You short 1M shares at $0.07, a $70K short position.
Stock crumbles, as it has. Now you have your million share short position at $0.0003, for a profit of $69,700. You really think you'll hold on for the last $300 too? Against unlimited risk?
C'mon, think it through. Take your $69K profit, buy a Corvette, and leave the $300 (or $3,000) on the table for someone else.
The short play is done here. It's time to blame management, and the people who have enabled them.
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