RINO/CHIO - the shorts started moving in on RINO the first part of August and by Sep. 15th, 10% of the float was short. They just had their a$$ handed to them.
CHIO will be no different. If you read today's 8-K, you'll notice that the company stated that they determined on Sep. 22nd that two previous 10-Q's needed to be restated. In my prior post (link back), notice how that the Buyins.net information indicates heavy shorting of CHIO on Sep. 23rd, the day after CHIO discovered the 10-Q's had to be restated. Coincidence ? Not a chance. There was a leak by someone.
Shorts were at it again today and in prior days, probably thinking that the company would take time in restating the 10-Q's and also thinking that investors would throw in the towel on the 8-K news out of fear. What did the company do ? They followed up the 8-K with almost immediate restatements and on the same day (today) that the 8-K was filed, each one indicating no change in EPS and certainly nothing materially important.
I'm telling you right now that CHIO shorts will take the very same bath that RINO shorts just took. While CHIO's PPS has been in check in the $1.00 area and somewhat painful to watch, our pain will be nothing like what CHIO shorts will experience. Do you think they're just a little concerned that the PPS isn't falling and investors aren't throwing in the towel ? You bet your a$$ they are.
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