ImageXpress Corp (IMJX)

[stock_rancher]

All of the shares sold short were from much-much-much higher levels. That is why the stock tumbled lower and lower on stellar volume. The covering is over and the shorters have made a mint on this one. The company has been diluting right into the shorts hands. Congrats to the shorts that hit this one right on the bullseye. Ask yourself one question. Why did the company issue a NOBO press release and then sell into the covering when they just had a HUGE sale that could continue operations? My conclusion is that they believed the PPS was overvalued and saw a golden opportunity to cash in. If the company believed that the future was bright they would have never sold 1 share into the market believing that the ROE would be much higher down the line. The shorts did not stick a fork into the PPS, the company did. What does everyone think will happen given the company track record for promoting shareholder value now that all the shares are gone? I suspect a massive reverse split and then a restructuring that will squeeze out any value that is here and then a continuation of the pump and dump. Look on the bright side, you can use this investment as a capital loss on other gains made through the year. I have a small position here and will not add any more shares. On to the next one, this one is cooked. The MM's that covered have already made the money and have no need to see the PPS rise..... they might even find a way to write the covered shares off. I guess they say if you play with the bull, do not complain when you get the horn. Best of luck to all of you and good trading!