Jul. 11 at 3:45 AM
$GALT they’ve borrowed and sold 9 million shares and are now paying over 100% interest on them.
9 million x
$4 is
$36 million to buy them back today even if they could and an extra 36 million if they’re forced to hold those shares for a year and pay the interest.
No wonder they are desperate to get the share price down.
Every time the share price goes up their interest bill goes up with it. How soon before they have to top up their margin accounts to pay the interest?
The shorts are in a really desperate position. They thought the ITT results would sink the company with the fda and it didn’t. They hope the company won’t be able to afford a phase3 or get a partner but du has given an assurance that the company will never want for funds if the science is ok.
Shorts can’t cover without putting the share price up.
Their only choice is to close their eyes and dig a deeper hole.
Very short sighted indeed.
