Hi Robert,
1) Why there is nothing in it to short the stock at $1.?
The answer to that is the following:
In PNLK's case, shorters, bashers, MM's,analysts and so on know that the Company is real and that $1 base is solid.It may, as it has for the last few days, drift around 0,95cts, but no lower. There are plenty of buyers at those prices.
Wether the marketing campain Glenn is doing is a success or not, the revenues will start flowing to PNL. The only unknown fact is how much, and that is where the success will make a difference.
Anyone, and I hope you have, who has done a minimum of DD on PNL knows those facts, and that is also why we have such a solid investor base with this Company.
The fact also that the bashers have long left this thread can be also translated that there is nothing worth shorting now.
2) To the question how I know there are at least 2 million shares short?
Take the trading history of PNLK.
between April 21st and May 25th 50 million shares traded.The float at the time was 7.8 million.
Divide the 50 million by 2, as we know often volume is multiplied by two for market maker spreads. We have then 25 million.
Divide again by 2 between sells and buys and day trades, we have 12.5 million.
That's 5 million too many. to be conservative I said 2 million minimum.
3) How do I know that there has been short covering recently?
Between the nervousness and margin calls, in the past 10 days at least 1 million shares were sold on the bid. These shares were absorbed by the market droping the stock from 1.30 to 1.
Any BB stock being hit with 1 million shares trades at pennies. PNLK did not that's why I KNOW many shorts were covered.
I'll be happy to answer any other questions you may have.
Regards
Malko.
PS Has anyone had difficulties logging on to SI today? I have., |
