Re: Short interest....from G1945V on Stockhouse a 424K drop
in response to
by
posted on
May 19, 2018 08:29AM
G1945v on Stockhouse shared an updated figure of 827,570 which is as of May 16th and comes from a site called ShortData.ca:
https://shortdata.ca/?c=resverlogix-corp.-short-sales&sym=RVX.TO
The numbers I share every couple of weeks come from stockwatch. Stockwatch had the April 30th number at 1,191,433 as of April 30th. ShortData.ca by contrast had a number of 1,251,522 as of May 1st....so they're a day apart and pretty close.
The site ShortData.ca is part of Elben Capital, and I've come across this outfit on a number of different occassions. I've seen their name attached to Puf Ventures which was/is a Mary Jane stock that I don't hold in high regard, when Lithium stocks started exploding Puf all of a sudden touted itself as a Lithium company. Elben is also listed on the site for the Prosperity Stock Report, one of those outfits that sends out free emails for hot stock tips.
Needless to say I don't think much of this Elben group....but whatever, if the numbers are right they're right regardless of the source.
RVX closed at $1.25 on May 15th, over the next 3 trading days almost 1 million shares traded, (978,292 across all platforms as per stockwatch) with the PPS climbing $0.43 cents to $1.68 or over 34%
It strikes me that our climb has been driven by short covering, the same way short selling drove it down. It will be interesting to see if the trend toward short covering continues as we head toward the end of May. Or will there be another short attack?
One editorial comment, given the thin volumes we see so much of the time....I suspect that the short selling is probably just one player or hedge fund, but that is opinion obviously...no way to confirm or refute.