Good point. The filing was today. I wonder ifff a lot of today's volume was Nile today. The filings are showing a trend. How many shares, if any, was he out of the 130,000 traded? We may get another Form 4 in a few days if some of this was him.
That short interest is actually higher today at 65% according to Seeking Alpha, a very credible source here. Their own site had it as a much lower percentage not long ago. There is a lag time to that number. Which is why I run on instinct and not the charts. That lag time to short's understanding is coming up in the numbers now. Their situation looking bleaker with each passing day.
It's defined as a percentage of the float, not the OS. The float is very small. Plus, illegal naked short selling, which may have been flagged on the threshold list, would add phantom shares out there not being counted yet still need to be covered.
So, I think it's credible. There are still idiots that think it's a good short. Probably the tech analysis guys like that one guy that told how foolish we were to buy below $4. Eric Nickerson, for example, said this last Wednesday:
@Racer-X My lent shares total right at 100,000. Small numbers come in and/or go out nearly every day (less than 1000 shares usually). I do believe there is naked shorting going on, but don’t know for sure. Shorts are paying 85% interest rate on their positions. Big volume a short time ago was Milton “Todd” Ault buying and hedge funds that bought shares and warrants in company offerings selling. Ault is still buying at a steady pace. I don’t know who is selling. The gunslinger hedge funds are pretty much out of the stock (and warrants) now. On the way out, word is they trashed the company’s prospects to everyone they talked to, probably sparking short selling by smaller players that we’re seeing now.
So, I think the Twitter messaging is well corroborated. I still say this is an active volcano that can blow its top any day... Definitely they are playing with fire. I think the short side can be chalked up to blissful ignorance. Heads up their tech charts.
But for the vast majority of the short position in this sock, I suspect most are trapped. They can cover without liquidity, which would be a squeeze. They may be delaying the inevitable. The small activity Eric is seeing on his account *Might* be some of teh trapped ones slowly trying to get out without pushing the stock up in this tight position. Easily finding an idiot to buy their shares. But not enough liquidity to get out all in one day.
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