"With 1.5 bil. NSS I think it is reasonable to believe that the short sellers have already made more than double or triple that amount off of SPNG thus far, IMO. 1.5 is the figure the company has info. on."
If you really believe that, wouldn't it be prudent to sell all shares and not buy any more, so the shorts can't profit of the longs? Obviously the shorts know something that the longs don't know, and therefore are making money right?
"Thus, when the forced cover comes and the hoped for SS there will be shorts stepping over each other to cover --"
Now I'm confused, these overseas naked shorts sell you shares without showing up on the REG SHO list, yet you think they will be forced to cover? If no US agency is even aware of them, they are not showing as FTD's on the REG SHO list nor do they show on the short list, who exactly will force them to cover?
"..driving the price up amongst themselves, especially if SPNG declares a stock dividend and the shorts want to beat the ex-div. date so as not to be on hook for the stock div. shares also. 7.5 bil. is nothing."
Again, the current amounts of FTD's on REG SHO can be covered in a few hours of trading without affecting the sp (and are every other day) and I'm not sure where SPNG would get money from to declare any kind of meaningful dividend. Last 10Q they didn't even have $100k in cash. 7.5 bil. is nothing? is that $7.5 bil.?
"- then settle down to true value of SPNG: $6-7"
Even at an OS of 722 million, $6 would give you a $4.3 billion market cap. I think all sponges sold in the history of the earth wouldn't add up to that amount. Are you joking about that sp?
AI
