Well I quickly looked up if one can short a penny. It’s rare but one can if the broker is willing to lend shares. So say this is accurate, it appears 1.6 B shares have been shorted. If possible it would make sense because many folks think this won’t become current, and the sec will shut it down. So 1.6 b shorted at say avg 7 is about 1.4 million in shorts.,they pay nothing if we bk. It also says typical cover is 6 days. This would explain the churn. And a lot of the volume lol. So if a true short cycle, maybe no insiders maybe a lot of short and cover.
I think the cover is happening instead of aggressive panic shorting like on amc because let’s be honest, if the trends we are seeing happen and this becomes current, gets stop removed, even possible ticker change...this thing goes to 0040 sp fast your head spins, and shorters will be lucky to just take a 3m dollar loss on the cover. Also say now whales using the amc ape ttechnique mass buy this stock like on our last run up. Boom short squeeze cover before it gets worse? So I can see why no aggressive shorting. To nobid at this time.
But another thing I’m noticing if this is factual. Just like AMC nobody is really selling ! And the pps is being manipulated. This is all in the plus zone for the bulls who buy and hold as they run the churn .
Honestly if it’s any entity playing havoc with ubqu my guess it’s the brokerages holding this right now. They are trying to make money either way before this goes boom or bust.
Overall it doesn’t change my outlook. Ubqu goes current, say changes to CZAL...rocket. Or no bid or sec shuts it down. Brokerages win. The biggest holders, those with the 9.2 B non outstanding lose.
Still my play is bullish overall
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