I think it holds some water. I also think the counterargument that there's little reason not to close them out holds water, but it could just indicate more legs down before then.
I'm very, very wary of the little change in short interest the last few rounds. A decline to roughly these levels happened once before, leading up to the NEO licensing. Those shorts came right back after the good news.
A downtrodden "meh" is all I can manage to feel about this investment anymore.
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