The MMs jointly had uncovered naked shorts of approx 9 mil shares for prior 16 days of heavy consecutive shorting. The 4 mil today also is likely with the heavy volume and that would make total of 13 mil of the available 18.9 mil that Trellus owned. This was an excellent opportunity for Trellus to sell and exit. This would also explain why there were no FTD filed SEC complaints from the brokerages that bot for their clients.
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