The discussion of the recent GENI short interest figures hinges on whether the figures from NASD have been adjusted for the 3 for 1 stock split. It appears that Mama Bear is correct - the short interest figures from the NASDAQ Trader site have been adjusted for the 3:1 split. A January 14 SI post (see below) indicates 429,000 shares short based on data from Yahoo. Since Jan. 14 is prior to the publication of the Jan. short interest, the figure presumably reflects the Dec., 2000 short interest figures. The current NASDAQ Trader figure for the Dec., 2000 short interest is 1,285,812 shares: nasdaqtrader.com
Dividing by three to get the pre-split number one gets 428,604 shares - which rounds up to 429,000 shares, the figure cited in the following Jan. 14 post:
To:InfoStream.com who wrote (64)
From: Glenn Petersen
Sunday, Jan 14, 2001 10:54 PM
View Replies (1) | Respond to of 69
I had actually seen those posts earlier. Normally I would suggest shortly the hell out of GENI, but it certainly appears to be propped up. According to Yahoo, the short position is 429,000 shares. Who knows what the actual float is; there can't be that many shares out there. There could be a hell of short squeeze. Eventually, IMHO, it ends up in single digits. I don't see a workable business plan.
Message 15182968 |
