This is getting painful. It has plummeted through the gap.
I just noticed last night that the short interest in PME, as of 21 March, is 0.26%. That's the highest it has been in three years.
It went up to that level from zero on 15 March. That was the day 1.05% of the company changed hands in the closing auction,
Short interest of 0.26% may not seem much but given the tightness of PME's register and its lack of liquidity, any short interest is of interests to me.
To take positions in such a low liquidity stock that can jump on announcements, the shorters either have high conviction in their opinion, or they are crazy brave or just plain crazy. Crazy brave and just plain crazy doesn't fit with my general assessment of shorters, which is that they are generally smarter than the average bear.
What I fervently hope is that they don't have information that the rest of us don't have.
cheers
PME Price at posting:
$14.72 Sentiment: None Disclosure: Held
