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Gold/Mining/Energy : PYNG Technologies
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To: Pierre J. LeBel who wrote (1713)3/28/1998 7:31:00 PM
From: Menace  Read Replies (2) of 8117
 
Can anybody explain why the short interest remains so high on the stock. I just don't understand why there is still such negative sentiment among what must be professional brokers and traders who are shorting it. As of March 13 the short interest was around 85,000 shares. The company seems to have alot of blue sky potential, so why not buy into it and let the shares appreciate rather than holding it down. There is not alot of profit to be made shorting a five dollar stock. Maybe a ten or fifteen dollar stock in a company with a shaky balance sheet and bad news on the horizon - but a five dollar stock with backed by a great product and future revenue, it makes no sense. The shorts have got themselves deep into a situation where they have to keep on shorting to meet the new buyers in order to protect their own short position. I can only imagine how many unreported shorts are on this stock. However, the shorters will be overwhelmed in this situation - their choice of shorting this stock, though yielding some short term profits will backfire soon and they know it. You can only sell short so many shares to protect yourself before the fundamentals of a good stock overwhelm the shorters. It doesn't happen slowly, all it takes is one day to completely sink all the shorters and the profits they had previously gained.
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