viwes.com
That gives the short interest. It has increased
from 25M to 28M. So shorts obviously do not
see any problem with the possibility of
dehypothecation.
< from Quicken.com.
..... Shares Short ....Avg Daily Volume .....Ratio*
05/00..... 27,709,114..... 3,704,551..... 7.48
04/00..... 25,145,028 ..... 4,062,032..... 6.19
03/00 ..... 20,150,284..... 5,935,642..... 3.39
02/00..... 18,351,691..... 4,139,746..... 4.43
01/00..... 19,055,160..... 6,545,128..... 2.91
12/99..... 15,882,543 .....1,947,070 ..... 8.16
Ratio = Shares Short / Avg Daily Volume; it may be used as a rough measure of days to cover.
+ monthly data as of settlement on the 15th of each month.>
I suppose that means that shorts think they know a lot more
about short term or long term price movements than the
longs who have the prerogative of calling in their stock.
They also presumably have a good idea of how many people
are likely to dehypothecate and what effect that would
have on the price.
Presumably nothing or if the price does go up, then they
plan to just stick with it or short more and watch it slide to low or
zero. Just as I, as a long, buy and am prepared to see the
stock slide from my $15, down to low [not zero] and then up
again to $1000.
Either way, it won't make any difference in the long run
because all that will matter is the earnings of Globalstar
LP over the next 20 years and the share of that which we
Globalstar Telecommunications Limited shareholders own.
Except that, maybe we'll be offered some interest
rate for lending our stock.
While funding is being needed for GLP to stay in
business, it might matter quite a bit to the price they get
for new shares they might issue to new investors. The
artificial large short interest, which has increased
the 'credit' represented by GSTRF stock will have caused
the share price to be lower than would otherwise be the
case.
So, calling in our shares seems a reasonable, sensible
and legitimate thing to do. I've done it. Over to other
people to decide where their interests lie. It's a free
world! [Unless you live in some countries].
Mqurice |
