We mentioned during the weekend that short sellers are getting desperate to cover shares and today it looks from the level 2 that they are trying to scoop as many cheap shares as possible.
In addition, we are seeing a lot of activity on the offers with market makers showing odd numbers like 6,666. In the industry, this represents a communication method that market makers use to talk with each other. In this case, we believe short sellers are reaching a point where they are trying to find shares between each others to cover and that a huge covering could be upcoming.
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