When shorts cover, the stock price goes up. USXP has been steadily trending down, and now it's stuck for the most part at 0.0001.
I don't understand the considerable volume either, but as you know, there're still a lot of people who, for reasons incomprehensible to me, still support Fluffy.
What I dont understand the volume of 100 to 200 million a day for a company that is in receivership and has supposedly sold off all it's assets. Could it be that shorts are covering over the 35 day period rather than all at once? Anyone else have a theory on this?
Your own post explains it. Mostly it's denial, combined with hope of an appeal being successful.
The other part is traders thinking they can trade the 100% spread because of the volume. Buy on the bid and flip it on the ask.
Shorts is there ever were any have no reason to cover, ever. If they were naked which I doubt there is plenty of stock to borrow now.
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