http://finviz.com/quote.ashx?t=HOV&ta=0&p=d 40% short interest. how is that even possible. The chart looks like grim death but I'm thinking at a $1.5 its a good risk return for a few thousand shares. Is there some news anyone here knows that i don't that explains the massive short interest?
I can't explain the short interest however I did get some insight into this company recently. My girlfriend worked for them for 3.5 years. She was actually the top sales producer in the north Houston area. A new sales manager was brought in. He used my girlfriend to train his new people. Then she was laid off. They actually kept sales people there that had not sold a thing for months. I have never seen such a messed up sales company. They harassed their sales people to no end. It did not matter at all what was being sold. It seemed the favored sales people there were the top networkers. They had their favorites taking Saturdays off, leaving early daily and getting to their offices late daily. The sales people that were selling but not ass kissing did not stand a chance. They had an area sales manager that had come from the construction side of the company. He did not have a clue how to sell a house or treat sales people. He consistently put his top producers in dead close out neighborhoods, or very low dollar neighborhoods. The high margin neighborhoods usually had sales offices with shortened hours because their favored sales reps were getting to work late and leaving early. Often taking Saturdays off. Just observing how that company is being run would make me believe it is a great short sale opportunity.