You're missing what people are saying here. Im not one of them but I'm writing this narrative so someone can correct me if I'm missing something.
The idea is, the offering was being shopped on the street prior to the big run up. So, when the big run up happened, people in the know were able to go, wow free money. We can short here and then participate in the offering to cover our shares rather than actually having to cover on the open market.
So, they shorted at 9 and covered at 6 risk free.
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