Oct. 25 at 4:29 AM
$NEGG
$30,426,798.25 in collateral…
(Divided by)
$66.72 closing price
(Equals)
456,037 shares short at closing bell
(Or daily change)
A reduction of 14,287 shares held short
While orderflow was hinting at an increase in shares being held short, there was a lot more action today on the volume side so the usual trends didn’t hold true. I’m not that upset, it’s why I say trust the collateral and the CTB, not trust the orderflow.
I’m sleepy so not going to rant much further tonight. Safe to say we’ve barely moved the needle on short position’s closing, we should still be well over 100% of free float shorted, and we executed a very successful kick in the teeth. Wish I never got thrown in broker jail or the other 8K in cash coulda been shares already, but also don’t mind spamming that for market on close orders every day. While it would require not holding with that smaller chunk, keeping the close price high is what does damage.
Have a good weekend.
