Replies to post #120523 on Spongetech Delivery Systems Inc (fka SPNGQ)

[z4lover]

well to short 5 million shares from what i gather would cost you about $12.5 million in capital tied up via margins..

so to lets say short the stock at .153 and cover at .147 today... you make .006 cents a share.. or $30,000 for the 5,000,000 shares..

now as a percentage of your tied up capital... that's only... a 0.2% gain... not very good if you ask me.

frankly I don't see how a trader with that much capital could justify that type of short position... based on the valuation in this stock...

maybe I'm missing something... but it looks as if it isn't worth it... to me as we are getting to the oversold levels... you could very easily loose a lot more than that. and you have a lot of capital at risk...