According to Yahoo Finance, over a Million shares were shorted as of 7/15.
Doubt many of them that are still short will want to be there with the pending
approval, may be fueling todays 'bounce' back.
But also expect the shorts will show up (IF approved) when it peaks post approval
and try to hit it again.
Cause there will be a 'lull' period between approval (IF) and a qtr when sales revenues
are actually gaining ground for them to mess around with it.
Few unknowns to ponder IF approved
-peak price
-will they do a forward split to make more shares available for the institutional players
which would knock the share price down and take away some of the incentive for the shorts
to hit it (lot better shorting at $45 than it is at say $10)
-will the institutionals grab shares and increase their share count. Or will it be like CRMD and
for some unknown reason, the institutionals have NOT been buying shares like it was expected
they would.
To be determined.
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