Bergamo Acquisition Corp. (BGMO)

[satelliteguy]

There are so many smart people posting accurate explanations (direct from FINRA) of what the intraday "short volume" reports indicate, and yet still so many ignorant people who add up each day's total and think they show a "building" short interest. Sigh.

40-50% of trades reported as "short sales" intraday is a typical percentage for ALL NASDAQ stocks, and this has nothing to do with the maintenance of a short position. If I put in a large sell order for stock that I own, and it is routed by my broker to an unaffiliated market maker, each of the small buys of my stock throughout the day will be reported as a "short sale" because my shares are not journaled over from my broker to the selling MM to "cover his short" until the end of the day or until all the shares are sold.

A large "daily short volume" for BGMO would probably mean that someone is selling a large number of shares through a market maker that is not the same entity as the broker that holds the shares. But 267,163 marked "short" intraday out of total daily volume of 572,518 is not at all unusual.