Replies to post #8433 on China MediaExpress Holdings, Inc. (fka CCME)

[pedro45]

Consider what was happening while the shorts were accumulating another 1.2M shares. (I stole this from a post on Yahoo)


12/2 Starr completes the exercise of 1,545,455 of CME common stock purchase warrants.

12/6 Global Hunter upgrades the stock.

12/10 The SEC filing for CFO Lam's 100K purchase goes public.

12/16 CME announces the future payment of a semi-annual dividend.


From 12/1 to 12/15 12,383,000 shares of the stock were traded. So the shorts shorted 10% of the volume while one positive news story after another was released. I'm guessing that with the shorting volume necessary to bang the price down after the divi announcement short interest is now over 5M.

They appear to be stuck in a scenario where they have increased their bet in order to hold down the price in the hope they can exit in a controlled manner.