Shorts in CPST


I had a few requests about more information on the short position in CPST. The table above was taken from www.nasdaq.com It shows the short position as of November 15(when the stock gapped higher on Cramer’s call) at 6.4 million shares, since that call the stock has traded in a tight range with almost another 8 million shares being added to the short position. In fact the average price the stock has traded between Nov 15 and today is 3.66 (meaning most of those 8 million shares added are losing money). The pain really begins for those who are short above the resistance at 4.00, above that level it should see a quick rally up towards 5+ as shorts scramble to cover their bearish bets.