Innovation Pharmaceuticals Inc (IPIX)

[loanranger]

Some have expressed the hope that there would be a short squeeze here....an increase in price due to the buying pressure exerted by short sellers when they cover. But during the two week period prior to the latest Short Interest Report over 40% of the short interest disappeared...the net result of short covering in excess of new short sales. Obviously the price, for whatever reasons, didn't go up during the period. But the bullets were used up.

The relatively higher volume we've seen lately renders the new short interest number fairly inconsequential. Accordingly, any short covering that might be brought about by good news, for instance, can't be expected to bring about a significant price increase.

Hope that makes sense to you.