Those short numbers can be explained by the way that Market Makers make the market. MM's often sell short in order to offer an orderly market and then cover at a later point. It shows up on the short list but its not really a short.
As I have said there are basically only two types of people(there are actually three) in the market that can short. Note holders who can cover a short position (and are able to provide proof to brokers) and market makers which are allowed to short in order to provide a stable market. The third is anyone with deep enough pockets to pay the $2.50 per share to short the market (which has been excluded due to the fact that most people in the penny market are never go to do that).
Toxics, my friend, toxics. O/S went up by 3.7 million shares from 8/8 to 9/30. If you think 10 of your friends held 2.5 million of those shares on 8/30, then I'd say your friends aren't telling you the truth. ;-);-)
Check out the margin requirements for shorting penny stocks and then ask why people would jump into shorting at sub 4 cents, but not have shorted at $7.75 down to a dime.
Facts are pesky things when they disprove a negative sentiment. This is going to be fun to watch over the next 6 to 12 months. Maybe I'll get lucky loading more of these cheap shares.
Absolutely the best GNID post in weeks. Great DD cheeky. There's a short issue here and with only 4 million floating and probably about 80% of that locked up not trading...
Can you say shorts in some trouble come cover time..
HUGELY SHORTED >> 4.1m Float Confirmed Sept. 30/2016, YET the Shorts and Toxics took GNID down hard August 31-Sept 9th, 7 sessions. How does 5,128,000 trade in 7 days, all red, YET, True Longs hold more than 40-60% of the Float. I know of 10 guys holding more than 2m of the Freely Tradable announced 4.1m Float, ALL FACT!!
Here's the PROOF >>>
Oh well I hub longs are up to 3.1m now, locked away!!