China MediaExpress Holdings, Inc. (fka CCME)

[tenenbaum]

Maybe I'm nuts but I really don't see this as anything other than a well timed bear raid (right before CNY; released at 1:30am China local time presumably after company officers have gone to sleep).

The Reg SHO clock is still ticking down, the stock lending rate at Interactive Brokers is still > 60% and there are still no shares available to borrow there. I personally don't see anything new in the accusations against the company in this piece that most of us haven't heard before, which leads me to believe that the piece was rushed in order to buy the shorts some time and volume. I would be careful discounting the possibility of a violent snapback when the Reg SHO forced buy-in rules kick in. Even if a certain amount of short covering took place yesterday, there were also a certain number of follow-on shorts nakedly selling to the ones covering.