Shortman indicates short positions up, tho the daily numbers don't add up, I never understand this.
In some encouraging news for the sector both GulfMark and Hornbeck share prices were up significantly overnight over 10%, which shows the sector has upside, as we would all expect.
However there is a key difference between GulfMark / Hornbeck and that is the up to date disclosure. Last disclosures from both companies were not good, share price re-based lower post the news.
The last news from MRM resulted in the price in the 20's and I suspect the next news from MRM won't be well received, including an asset impairment which will really test the balance sheet.
I do believe that this is what the shorters would be betting on and it is why I am staying away from the stock at the moment as well.
MRM Price at posting:
41.3¢ Sentiment: None Disclosure: Held
