I told you guys about the shorts who see a stock like NM going up and short it on the basis of the float number without knowing the facts. They don’t realize that float is tightly held and there are not as many shares available as they think just by looking at the numbers. And they miss the important information about the BDI and increase in fleet size.
In my analysis NM can go to $20 or $22 in the blink of an eye when they find out about this trap and realize there are essentially no shares available to cover with. Just bear with me on this and you will see.
I just got this from Tony to add credence to this hypothesis:
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Stock Symbol: NM
NM $ 14.50 Navios Maritime Holdings Inc. 1.11 Shares Short 3,467,200 Days to Cover (Short Ratio) 5.2 Short % of Float 5.74 % Shares Short - Prior 2,403,600 Short % Increase / Decrease 44.25 %
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