CORS Short Interest- 95% of float?!

Discussion in 'Stocks' started by Rearden Metal, Jul 18, 2007.

  1. shows CORS short interest at 95% of float- Is that for real?

    And if so, does anyone have a rational explanation for how it got that high?
  2. nitro


    One month ago short interest was 55%:

    I was short a couple thousand shares of that stock from high 20s (like $29 and change) held it for months and made several thousand dollars. Then, when I blew out my account, I was forced to liquidate it. The forced liquidation was at $24. It had gotten down to high 22s so that was my MFE.

    I would still be holding it short if it were not for my debacle in SIFs. I don't think the stock goes to zero, but it goes to low teens or a touch below 10.

  3. GGSAE


    I know nothing about this company but the fundamentals look solid from the long side...i think i'll do some more detailed research, see if i can find a sibling to pair it with.

  4. nitro


    I would take short profits in CORS now, at least on 1/2.

  5. Daal


    why you shorted
  6. CORS ain't doing all that bad. I see the activity in a branch office by the CME and they're fine. Chicago real estate has bottomed and you can bet the florida real estate market will will pick up as snow birds head down this winter. we have huge numbers joining the retirement ranks and they're going help both chicago and miami markets (empty nest suburbanites moving back to city to retire). CORS just announced they're paying their quarterly dividend. When the Fed cuts rates, CORS will fly higher.
  7. Hmmm...looks like I was correct! Fed cuts rates and CORS is up 10% the next day.
  8. Fully distributed nearly 2 years ago.

    10% isn't shit. Even less so when not capitalizing on it, but yessssssssssssssssssss, YOU WERE RIGHT!!!!
  9. nitro


    I would take profits on the other 1/2 here.

    CORS is now well oversold imo, and any more selling is probably fear and psychology, not value.

  10. piezoe


    I realize that this is naive, but 95% of float short? Really! Doesn't that imply either that the float is 45% larger than reported or that there are some rules being broken? Or is it legal to borrow stock that is restricted or otherwise not part of the float?
    #10     Nov 5, 2007