Here's the latest info on short interest in CMGI
12/98
Shares Short: 4,273,919
ADV: 939,086
Cover Ratio: 4.55 (approx days to cover)
11/98
Shares Short: 4,536,328
ADV: 1,425,506
Cover Ratio: 3.18
10/98
Shares Short: 3,820,967
ADV: 1,837,288
Cover Ratio: 2.08
09/98
Shares Short: 2,349,846
ADV: 1,169,277
Cover Ratio: 2.01
08/98
Shares Short: 2,289,554
ADV: 1,198,963
Cover Ratio: 1.91
07/98
Shares Short: 2,087,106
ADV: 1,135,748
Cover Ratio: 1.84
It's an uniterrupted up trend for 6 months -- especially the last two. Sounds like a familiar Internet stock story. The more it goes up, the more shorts are sure it will fall. And when it ticks up they all cover, starting a new cycle again (hello, AMZN!). |
