Wednesday, September 22, 2010 12:22:10 PM
It's obvious the shorts are just keeping at this company. So what can CHBT do to counter it?
According to yahoo finance, there's about 9.35 million shares in the float. At $9.00 a share, that's just over $84 million in shares. CHBT has about $160 million in cash.
So here's an idea for the company; spend the cash. Forget the $20 million buyback, just buy up the entire float or as much as the company can get its hands on. Any stock holder that doesn't want to sell doesn't have to.
You want to see shorts run for cover and the share price skyrocket to $17 or so a share? That's how they can do it.
Long term investors rewarded, short term traders screwed.
And there you have it....
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