Barb,
You are right, float and outstanding are different, but, as well as Larry, I do not see any way short position may exceed float, especially for almost 50% (if numbers Larry used are correct, 6 and 9 respectively). Either we are using different definitions for float, or numbers are incorrect, or investigation may come soon. Outs are about 48 M, if insiders own about 50%, institutional holding is relatively small and not necess. in the safe box, how 6 M float comes?
FLOATING SUPPLY OF SECURITIES:
"Whatever amount is so carried by brokers on margin for the account of customers and in the hands of traders and speculators constitutes the floating supply. Stock owned outright, retained in safe deposit boxes, and not placed on market or subject to speculative commitment do not constitute floating supply".
Encyclopedia of Banking & Finance. |
