GM, RE--APM high % short interest. APM has had a massive short position for a long time. One theory/explanation for the large short position is that it's related to the APM convertible bond issue.
Most of the short position was established at least 1 1/2 years ago, maybe longer.
Lawrence Kam posted an explanation for the short position on one of the APM threads, how he thinks the mutual funds/hedge funds/whatever are using the short position.
When APM was in the 20's and 30's, a lot of posters thought the huge short position could lead to a short squeeze, and we'd all make a lot of money. It didn't turn out that way. And I'm just guessing, but I think that the short position didn't drop very much even after APM dropped to 15, 10, 5, and lower.
Regards,
Larry |
