Hi ND,
What makes you think that this isn't just electronic market making by dealers that carry no inventory? The bi-monthly short interest hardly varies.
Imo, The shorts are not the issue with the stock price. It's the lack of revenue growth, and more importantly the long history of under delivering on what has always been a promising technology.
I think that if the press articles from the 2011-2013 period had panned out-- had MB put it into the sedans in 2014 in the SL make rate volumes, and then the E class, we'd have a totally different stock price.
But MB didn't do what they said they were going to do, RFI's projections for a second and third OEM were off by a few years because of this, and because Joe is all about best possible case, they kept going after institutional money. Bob's estate selling and the crazy bad 2016(the year that the S was supposed to get us to profits) and the company's admission that cost was the issue all along got us here.
The company is still going. There are a lot more S sedans on Autotrader with MSC than there were, and between Saxe's salary and other cuts, they are close to break even. It's a very promising technology, and I think Mclaren and Fisker are really significant even if they are hugely expensive vehicles because whatever go them to step, should get others to step.
Anyway, the shorts don't control the stock price, revenues do as do milestones announced and reached. |
