Yes, and even higher. I will put my money on both TOPS and DCIX, because they have a very high percentage of shorts before an r/s. Some shorts stays because they think it might continue to be a sell off after a r/s with company's lenders dumping as soon as a r/s like in the past. I believe the lender or waiting on higher returns or they have cash out before the r/s in DCIX for example, or waiting to bring trust back in to the company. This is my opinion
TOPS went up to $1.3+ on Friday, but they had a big sell off.with shorts borrowing shares. The share price closed around $.70 and stay in the 70's in after hours. They know the shareholders voted for a r/s and like DCIX they don't want to get caught up in a r/s with a run large run. Shorts are need to push up a share price, especially greedy shorts whom are holding large amount of borrow shares afer closing and in after hour trading. Like DCIX many of TOPS short sellers held onto their shares on Friday. when prices start soaring on a tiny float and o/s, shorts start covering quickly and buyers coming and cost the share price to soar more quickly and they start covering even more higher. It makes it more difficult for short sellers to cover when shareholders and investors don't start selling early on a run, because it causes the shorts to cover much higher when they're completing with buyers for shares they needed for covering their borrow shares.
Monday is going to be interesting for both TOPS and Diana Containerships, Lets will the TOPS tiny float cause the shorts to run for cover like they did with DCIX. I will have my Coffee and Doughnuts ready to watch the show.
This is my opinion on the above subject.
