>>Also, it looks like the stock will split to about 12 or so. This gets very, very dangerous for the shorts. This EXACT SCENARIO happened after the 3-1 split 2 years ago, almost to the day. The stock went up 10x from that point, due (in part) to the resulting short squeeze.<<
Nonsense. The IOM share dilution now will be 260,000,000 shares. There will be plenty of shares to go around. A short squeeze failed to occur even when short interest was well above 20,000,000, and the number of outstanding shares was 130,000,000. Instead, last Spring, shorts drove IOM right into the ground.
The thing is, a lot of people remember the "good ol' days" when IOM was IOMG. These are not the same stocks. Different times. Different markets. Ever since Iomega moved its stock to the NYSE, it has been a glop of mud on the bottom of Wall Street's shoe.
Wall Street is now scraping that mud off using the curb. IOM is going down, down, down. |
