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Non-Tech : Any info about Iomega (IOM)?
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To: FuzzFace who wrote (36748)11/20/1997 8:17:00 PM
From: Gary Wisdom  Read Replies (2) of 58324
 
To: Edwin Re: short squeeze

Edwin,

In your post, you said that short interest was 18-23 MM, has been decreasing every month and the short squeeze never came.

To me, this is contradictory in light of the fact that Iomega has risen from $16 or so in the beginning of this year to $32, with short interest decreasing each month.

Doesn't this tell you that the shorts have continually been getting squeezed and closing their positions?

I'm glad the short interest rose 14% this past month with the price below $30. That tells me that the ones that got squeezed earlier this year are back for more punishment.

And, remember, in one month, short interest will rise to 26 MM shares. That's a lot of shares to buy back. I bet you many of the shorts are contemplating the split and will want to get out before it happens.

We'll see (my new favorite expression)
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