Experienced traders have left comments on this blog explaining that MNI's recent price increase is due to short sellers covering. How much longer can that last? Yesterday in comments was this answer: not much longer.
"... when the stock is driven up by covering and whatever size of lot is unloaded there is still the little matter of of sellers out numbering buyers over 2 to 1 to contend with. MNI having no floor (support level) has no hope of anyone even speculating that they can turn it around, so any rise in price that you see going forward will most certainly be short covering.
The next short interest release in a couple of days and the one following that in 2 weeks should be very telling."
Today's close puts MNI barely above $1 a share. With a slight decrease, MNI could easily dip under $1 a share. Delisting will become a serious threat if MNI averages under $1 a share for 30 days. So stay tuned.
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