Mp, personally I am not convinced they are covering. But obviously we need to see the reporting to figure out what happened.
During the June attack where we saw 28+M shares in volume over a month of trading, shorts increased their position from 8M back to 10M. They had covered from 10M to 8M in the months leading up to Investor Day, and we saw a corresponding rise in price, albeit subtle. The rest of that June volume was mostly retail and day traders, with millions of shares being nothing more than HFT churning small blocks back and forth.
Even on this most recent attack, I am guessing the majority of the damage was done by shorts with probably about 500K shares shorted give or take. Shorts could have attacked starting Monday with naked shorting and then picked off the shares they needed for the borrow during the selloff they triggered. Just like the June attack, no doubt 50%-70% of the volume this week has been HFT churn
This is just a guess on my part until we see some validated numbers.
I still have no idea what the end game is here for the shorts. And I am also not sure what ADXS plan is to deliver "shareholder value." The only way ADXS can do that is to do something about the boat anchor shorts that are dragging all shareholders down, including the BOD and all employees of ADXS.
I am still not clear why DOC seemed somewhat oblivious (from the outside looking in) to the shorts impact on ADXS PPS when his core plan seemed to revolve around using the stock as currency to build ADXS into a standalone pharma.
Speculative Bios don't have the luxury anymore of just being about the science. They have to have some very sharp and good people on the payroll who know how to monitor and effectively manage their PPS.
JMO.