could someone explain why the stock would be climbing if sears is contemplating the Bk , its almost $8 already today... i know thats still almost considered a penny stock tho
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You should never short a stock where the majority is held by a few people and the float is so little
Eddie is buying and pushing stock up.
95% short positions are bought on margins, so if the stock moves up a bit, the creditors freak out and contractually force the borrower to cover the short position.
Now, to cover the short position, you need to buy at market price. With multiple folks buying at market price, a bidding process starts that pushes the stock price up.
A short squeeze ensues, Eddie cleans up a big pile of money...
He did the same thing in January, the WSJ called it the most ellegant short squeeze of all times.
Eddie and Bruce own the vast majority of the stock. They can manipulate it any way they desire. Pay no attention to the stock price. It has little to do with the internal cancer that continues to grow.