one analyst asked about the burn moving forward. JAV estimates that it will be about double by the end of 2008 which may have some analysts and investors concerned. otherwise I'm stupefied by the selloff today, despite what's going on in the macro market
I have yet to listen to the call, but if the above is what was actually said, I am not in the least surprised by the sell off. They will be out of $ by the q3, which means that they need to raise capital.
The shorting, if that is what is going on, is either in anticipation of covering at lower, post-financing prices, or it is being done by those entities that expect to participate in the financing and are shorting against the box. In fact, the latter group may well be the reason why the sp has dived with little reason over the last few months.
Regards,
Bob
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