Perhaps the people shorting had information that there was unusual things happening at LINE.
Take a look at the chart ...
I think someone knew what was brewing before it became public knowledge.
You can see that most of the short interest was created before the deal was even announced.
Could it be a raid?
Possibly. I mean, the main catalyst is the SEC investigation; part of which was already known to be happening because of the transaction.
Even if there is nothing found, I think people will still get a decent entry point.
I have taken a further look at the financials and I stand by the book value I mentioned previously.
The concern is whether or not the numbers are more than they ought to be.
If that's the case .... It's going to get far more uglier.
IMO, Now that people are taking a closer look at the financials, I highly doubt that this will go to $30 in the near future.
That valuation is not appropriate given the current commodity prices.
Take a look at WHX to see what can happen when reality creeps in.
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