Spartan - Who knows? If DRYS buys back another 9 million shares, there would be roughly 13 million trading. According to NASDAQ there were ~2.6 million shares short as of 10/31. If those numbers come to pass over the next few months, I suspect brokers will significantly raise the margin requirements which will force many to cover their positions. How high the pps runs would obviously be a factor of how many shares are for sale. If no one is selling, it will cause the bid to run higher still. Could get interesting here...
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.