Patrick: For the record, I am not short the stock, have never been short the stock, and do not recommend people be short the stock.
I would love to be, but it is very difficult to borrow. In that situation, one is very susceptible to a buy in. If I get into a stock position, I don't like the time and price of my exit to be determined by someone other than myself.
My guess is that between now and whenever audited results come out for the year (probably not before March 30, and that is assuming that DHMG follows the rules and puts them out on time, assuming it hires an auditor) there will be heavy insider dumping, which will free up the certificate problem. Presumably there will also be a campaign, perhaps with even more intense boiler room tactics and/or chop shop brokers, to pump the stock up a little longer. That would be a great combo for a short seller. But for the moment, shares are still a little too tight.
As to your theory that I want to cover a short, if I were short I wouldn't cover it here. As you should be able to tell from my opinion about the company's accounting, my target price for the stock is zero. My target location for con artists is jail.
If you question the Bloomberg quote, please ask the company whether Universal was audited, recently or even ever. |
