Ha, well I cant tell you that for sure. but as soon as this gets fixed, which I think is going to take a long time, then you will have to cover. But it depends on you broker. Some might not make you do it immediately and some might make you liquidate asap but I've never shorted all that much in my trading days. Only a few times and Ive never really been all that negative and was never forced to cover. But Im sure many here know.
But in my opinion, a lot of this volume is shorting. But I think the bid is so strong b/c many here know people are shorting and are betting that they will have to cover at higher prices so they are betting to make money.
They main deal is whether the company drops a bunch of shares on the market to raise money before people are forced to cover. They have to raise money b/c thats the point of going public but they might be aware of the short and are not doing it yet.
All I know is Im in sort of the same situation with ATNO. And I just got my shares and I still cant sell them and its been going on since oct 10th. Ameritrade busted trades for their clients that day and probably ate the loss but that took a lot of work to get done. Check the board and read up on some of our posts. Really crappy. ATNOD went from 8.00 a share, to a 100 for 1, to 1.50 a share(where many shorted, I think they sold the day before to me and others and still got the split so the got best of bothe worlds and got away with it), all the way down to .04(where these guys probably covered), back up to the low teens, all the way back down to the .02's yesterday I believe. Its a little different b/c it was a f/s not a r/s but the same name change thing and the same "d" happened.
Im the one who got beat when i bought on the 10th((the day of the split)) so I dont know whats going to happened to those who sold on the day of the R/S here. Its probably all jacked up. But we will see.
Last good pink I was in was MVBY. Went from 5 bucks a share, then they sold a few million shares all at the .04's-.60's then it ran to the dollars, then all the way back down. So there is always a pattern in these pinks.
But buying pinks thinking that they will go up has got to be more risky than buying pinks and betting that they will go down.imo
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