Feb. 4 at 4:57 AM
$TANH Data below confirms a few things:
- Shorts had been trying very hard to cover the previous short interest of 96,584 shares (as of 1/15), and they caused borrow shares down from 150-200k stable levels to 55k on 1/31 and covered partially in the next two days. A lot of shaking and more shorting but
$1 + price was defended (by management? not sure)
- On 2/2, positive news released and volume surged. Shorts (could be mostly MMs) had no choice but to go extreme as to borrow up all shares to contain price, with a lot of wash trading, and fend off squeeze threat.
- Some scalpers took losses but overall the covering has been tiny.
Make no mistake this is a great squeeze setup and smart traders should be scooping up cheapies staged by the shorts at bottom levels. I further believe naked shorting was used due to vol spiking over 3M on 2/2 and FTD may not be resolved anytime soon. If it goes over the threshold long enough it will soon get on the Reg SHO list for short squeeze players to notice.
