Replies to post #204361 on Avid Bioservices Inc (CDMO)

[biopharm]

As much as I am very glad to see short interest down considerably I would NOT classify it as "...all the shorts covering..." If ALL the shorts covered their positions I believe we would be at much higher PPS,IMO. Again I understand your intent but to state ALL is over-exaggerated. There are still 10,646,000 shares SHORT. GL PR

I did say: "All the shorts covering" => in the process or in the middle of covering and never actually said they covered. Cheynews updates clearly show the trend seems to be shorts are scared as heck to be holding this in a short pile when news comes out.

As for the stock moving higher when shorts cover it has already been proven here in the past when short positions decreased and share price decreased during the same time period.

HFT and algos allow for such things to happen where covering is done on no material moving news in hopes of clearing out all short positions before the material moving news comes.

BlackRock seems to like our little Peregrine and they are very content on waiting. So am I.