Completely agree. They far surpassed what dilution alone would have done. Shorting at these levels is not practical, and is more monetary risk than reward, but it is clearly being done. Why? I feel that someone wants a huge chunk of the available shares, which gives the only reasonable explanation for pushing this hard to get the pps where it is. Again, it’s not profitable to leave excessive open short positions in sub-pennies, so someone would have to have a better reason than just small short gains (after fees, etc are paid).
I took a very large position Friday. The pps must recover (go up) before more new shares are introduced from this point IMHO, and although MM’s usually cover their short positions in minutes to hours, a bounce Monday could very quickly bring in a lot of interest from those waiting on any confirmation, on top of those looking to average down, triggering a SERIOUS short squeeze. Potentially the biggest one I have ever traded, so needless to say, I am very excited about next week. Being down over 99% in almost no time, I think there will be a mega-bounce for multi-bags
The squeeze could be epic, and I see a possible repeat of what AXXA did (50 bagger, .008 to .37 in 3 days. That is just my opinion.
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