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  1. Andrew4life's Avatar
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    Default RIMM Short Interest All Time High

    NASDAQ just released the Short Interest data for RIMM as of Nov 30th

    Research in Motion Limited (RIMM) Short Interest - NASDAQ.com

    The stock has been rallying but it seems that it is not because of short covering.

    As of Nov 30th.
    Settlement Date 1.978142
    Short Interest 113,693,228
    Avg Daily Share Volume 57,474,757
    Days To Cover 1.978142

    Which is an all time high in terms of short interest. Though average daily share volume has dramatically increased, which means days to cover is much reduced.

    Good news? Bad news?
  2. q649's Avatar
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    Depends on how you look at it.

    If the shorts are correct (they believe RIM will post bad results on Dec 20th and that BB10 will be a flop), they will be rewarded. If they are wrong, there's going to be a monster rally as the shorts cover their positions.
  3. TheStoof's Avatar
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    I seriously don't understand how short interest are even possible. Borrowing from a broker with hopes that if it drops, you can buy at a lower price, and if it goes up, you're screwed.
  4. Nindia's Avatar
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    I personally think it's a much more ballsy play to say RIM will fail as a company right now and short sell their stock.

    After trimming their fat and streamlining their operations, they would be a profitable company with the size they are right now.

    I think the shorts are in for a rude awakening in the coming months personally. I look forward to all the short covering.
  5. Superfly_FR's Avatar

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    #5  

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    Quote Originally Posted by Andrew4life View Post
    NASDAQ just released the Short Interest data for RIMM as of Nov 30th

    Research in Motion Limited (RIMM) Short Interest - NASDAQ.com

    The stock has been rallying but it seems that it is not because of short covering.

    As of Nov 30th.
    Settlement Date 1.978142
    Short Interest 113,693,228
    Avg Daily Share Volume 57,474,757
    Days To Cover 1.978142

    Which is an all time high in terms of short interest. Though average daily share volume has dramatically increased, which means days to cover is much reduced.

    Good news? Bad news?
    Just a reference point : when I started the other thread last year, avg day volume was around 22,000,000.
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  6. bk1022's Avatar
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    Stoof, if you buy something and it goes down, you're also screwed.

    With the advent of structured products and complex derivatives, there are a number of ways of being short a stock while not having any exposure to that stock.

    Also, some shorts may have been on for a while but cannot be rebought this tax year because it will trigger a huge capital gain.

    I doubt that there is a billion dollar bet on RIM going down right now. The bet is much smaller than you think it is. That being said, it is clear that some people are betting.
  7. silversun10's Avatar
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    #7  

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    with RIM steadily rising there is no way getting around the fact that even if the short is part of a hedge,
    the shorts are still the losing leg of the hedge and that cannot last forever........

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