Trade volume was around 2.5 millions shares total for 1/13-1/16. Lots of double- and triple-counting on NASDAQ, but it does sound like there could now be 1 million shares short. Since the trades on those dates were mostly between 12 7/8 and 14, and the stock is now at 15 1/2, whoever shorted on those days is losing some serious money (and some of it is to me, I am happy to say). So far, I haven't seen much evidence of covering, like FAHN sitting on the bid all day, though earlier today FAHN was pushing up the bid by themselves for a while.
I've tried a few sources, to see if I could find out why FAHN (or whomever is trading through FAHN) picked RADAF to short. Haven't heard anything. Could it be as simple as someone decided to short the best-performing NASDAQ stock of the previous year, whatever it was? Nah, even Wall Street money managers aren't that simple-minded, are they? ;-)
Dennis |
