Greetings, We have really been scratching our heads on the performance of XPNG! Why has the selling been so aggressive? The company has been financed at 1.20 a share and the selling has still been relentless well under that price. One of the answers appeared yesterday. XPNG is now listed on the Nasdaq SHO list. At least 280,000 shares are been held with a fail to deliver as of yesterday and we believe it could be closer to 1 million shares. This means the stock has a significant short position without shares being borrowed against the short position (otherwise known as a Naked Short). We believe the naked short is significantly higher than 280,000 shares, which are the minimum shares held short, that would force XPNG on to the SHO list. At least a half a percentage point of the total shares outstanding held naked short is required to have a stock appear on the SHO list. View the list at the link below and scroll to the very bottom to see for your self.
PS I consider this to be a positive since there is definite support in the stock now. I'd prefer this never have happened, but at least we have confirmation about where the selling has been coming from. All shorts have to be bought back at some point.