Question to the Board.
Hello Everyone, I've initiated a position just prior to earnings last month, since everything was so bearish, I couldn't resist the contrarian play.
My question is this: Is there any resource to evaluate the dollar-weighted short position that's outstanding? I guess, I'm trying to figure out what the "pain point" is for the largest short positions out there. It seems like shorts have slaughtered this company's stock since early last year from the 20's down into the single digits.
I'm just wondering if there is a price point where JCP will gap up significantly higher from here. My guess is that most long term, established shorts are weighted in the 10's somewhere (maybe $9.00-ish) since the dilution/offering last year.
From that perspective, the current moves up merely reduce gains in the accounts of short holders, but the real pain will be felt when that account starts to bleed red and that's the pain point that I'm interested in.
Anyway, just my rambling thoughts. Is there any way to get better insight into the short position outstanding outside of the NASDAQ website and/or short squeeze.com? I guess we'll see how the short position has been evolving later this week.
Best,
Jared
