Larry, CC is in the business of making money, whatever way they can. How about the following scenario, last January, they let the pressure build up and covered their prior short. Knowing very well the positive impact that removing the floorless will have, they removed the floorless and thus "engineered" the rally to about $11 or so, using that rally to short the hell out of the stock then. In the meanwhile, in the last six months, they covered good portion of it, and now, they are going to repeat the same feat. Of the current short position, I have no way of knowing which part is CC's and which part is Wexler's (g), but this sure could be a "workable" scenario for them to make money until they decide that VLNC is going somewhere, if at a given point in time they come to the conclusion that VLNC is going nowhere, they simply go to plan B, activate the death spiral.
Zeev |
