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Tuesday, August 25, 2020 2:20:31 PM
Very good up to...
IF, ZN announces reverse split (to stay in Nasdaq) the price will drop 25% on news and but if ZN decides to go OTC we should see a spike up to 45-50 cents (and then a quick drop back down to 30 cents after the 50% last hoorah short)
O/S 179M. Short interest 4M. That 2% of the O/S Shorted. Where a stock isn't significantly Shorted until close to 12%. You're really expecting a lot out of the Short covering for a spike to 0.40-0.50.
Also don't forget the selling pressure of the remaining Tutes. Funds setup to invest in Nasdaq stocks will dump in mass if it goes to the OTC. According to the Nasdaq site Tutes currently hold 4.95% of the shares.
So one would have the 2% Shorts covering in mass running into the 4.95% Tute Sellers eagerly dumping to em.
The best case scenario for ZN SHs is probably the R/S. A 1:10 taking it up to close to $3. Still on the Nasdaq. Both the Tutes and Shorts can then decide where to sell/cover on the subsequent PPS fade.
Your magic 25-Aug date is upon the stock. Appears pre-ordained, either the R/S or the boot to the OTC.
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