I may be a rookie, however I am a thinker. Do you think that maybe in this envoirnment with a volitile market , warrant holders would be nervous about exercising. If however they short the stock when it gets to 2.25 , they lock in that price. If the market goes up, no worry they mearly exercise the warrant to cover their short If the market goes down they cover the short and keep the warrant so they can do it again.