Since 2007 short data has been reported to Finra and they publish what happened weeks ago, so when the shorts were dumping investors would think the longs were selling, they would panic and sell, the price would drop, shorts could cover before the end of the reporting period. For example, as of know July 9th we have the official data available to us with a Settlement date of June 15th which means that those trades went down 2 or 3 days before that. So investors are looking at what happened 3 weeks ago. On that Finra report the short interest was 17.54 million cost to borrow was about 11% for them. Days to cover 13 days, average days on loan 37 days. On May 6th the share price was 11 bucks. Now there are 26.5 million shares. So during that period about 10 Million additional shares were shorted 40 trading days 10 million shares or 250k average shares shorted per day. It appeared to them they were headed in the right direction until they started running out of shares to short as the cost to borrow % rate increased so their cost of doing business and carrying those shares increased dramatically. Many on this board were complaining about everything under the sun trying to blame everyone without thinking about the affect 250k shares per day short have on the price.
Over the past 4 days the shorting slowed up has only averaged 100k per day (they actually returned those 400k shares yesterday) in July and look what happened to the share price. VWAP on July 1st $6.33, yesterday $8.33. So Only 100k per day short and the price went up 2 Bucks. This while volume stayed at about 1 Million shares. All of the sudden the ones that were complaining are now happy as happy as they can be, post about believing in the company and are buying shares. I was loving the 6 Buckish shares.
So the next official Finra report will be for the period ending on June 30th (actually T+2 or T +3 June 27th) will be available on July 12th.
If you are confused it is because the system was designed to scare folks that do not understand how additional shares borrowed and temporarily put into circulation affect the price and blame things other than the supply demand curve that was actually changed by the shorts.
Looking at it another way....I wrote this yesterday
Currently there are 700 Loans average time is about 40 days, go back 80 days (2 1/2 months) Price was about 11 Bucks and the cost to borrow was about 8% short count was 191 loans there were about 13 Million shares short, fast forward to today there are 27 Million shares short and 700 loans with a cost to borrow north of 100% . Looks like a lot more retail kind of guys. So 14 Million shares , 175,000 per day shorted for 2 ½ months.
Honestly as I have posted many times I want the shorts thing to continue until we see a joint, Press Release with Lightwave, A Foundry and yes a politician or two. The problem is that as soon as the screen paints red logic goes out the window with many, they do exactly the opposite of what they should do and post negative things which help the shorts. But X the screen is red why don’t you get angry? I just scratch my head.
Lightwave Logic is actively having daily conference calls with 5 foundries the most valuable production facilities in the world. There are 2 other licking their chops standing in line. Just brilliant spread the risk out among 5 foundries in 2 countries. The most sophisticated foundries in the world will do what Lightwave has done on the bench in their lab.
I pinch myself, 20 years it took to pass up todays technology, these past 10 years were great and the patents submitted in the last 5 years since Lebby joined are unbelievable. We have cornered the EO Polymer market both the material and as important are the Device patents. Even if someone comes up with their own polymer they run into the device patents and have to negotiate
with Lightwave
Almost as unbelievable is that the current lab will be able to produce enough Perkinamine to support 5 foundries. ½ of a wine glass of it can produce 10,000 modulators and the chemistry/lab costs most likely is less than $10k to produce. The industry wants to pay $1 per gig (Lebby said we will not leave anything on the table though) let us just guess that we start of at $2.50 per gig . $2.50 x 400gig=$1,000 per modulator the wine glass is suddenly the key ingredient for 10 Million dollars worth of finished product. I totally made up those numbers but understand that the lab can easily put out enough product. This is only for 1 single use of the magic juice, there are literally 100’s of devices/uses/markets for this.
What the shorts are thinking, and the logic used to arrive at their conclusion that the reward outweighs the risk befuddles me.
Xster those are rough numbers without an agenda, coffee buzz wearing off.
