Its the only thing they can do in their situation. Its called buying the dip (or in this case, shorting the peak) to average down. If they own shorts at $10/share and $300/share, they can average out and get clear at $155/share.
Of course if it gets driven back up over $300 (around where this madness started) they will be double-fucked.
250%?!
How the fuck?! Sounds like they resurrected Babbages and Software Etc. just to short more stock. I sincerely hope this blows up in their faces. HOLD!
Its the only thing they can do in their situation. Its called buying the dip (or in this case, shorting the peak) to average down. If they own shorts at $10/share and $300/share, they can average out and get clear at $155/share.
Of course if it gets driven back up over $300 (around where this madness started) they will be double-fucked.