Nice 16% rebound today on DRCT after the plunge below $10 yesterday. No interest for me on the short side. Seemed like a violent pullback was coming after such a huge run...and we got that yesterday...who knows when the next one will be. Plus the borrow rate is ridiculous.
Yes the borrow rate on UUU was also high. But I thought that was a much better short over $4. Since the NT-10Q filing told us the quarterly results would be awful. Not everyone reads through a late filing. The stinky UUU quarter had to be released within 5 days. So seemed like a good short-term bet for the stock to fall when the terrible Q2 comp hit. Strangely it didn't drop at all the day they reported the Q2 loss on a 36% revenue decline (and actually was green!). But crashed to the $2's soon after. Wish I would have shorted more in hindsight. Oh well.
DRCT $11.99 + $1.67 It's disheartening to watch this go straight up today after closing out the position yesterday. I was not selling any shares yesterday until I saw those filings that I thought were a precursor to an offering. I feel worse about the fact that others may have been prompted to sell by my post.....
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