Having lost a large sum in a short-selling scheme similar to what Tinmann described has me concerned about the large short positions at a time when it does not seem to make sense to any of us.
This was what happened to me and many others with Immunomedics. In 2016 they had a promising cancer drug and had been invited to the most prestigious oncology convention of the year to release their latest trial studies in one of the Key time slots. The stock had been on a big roll and it getting the invite pushed the stock that much higher. It was between $5-$6 the week prior to the convention. Then the night prior to IMMU's presentation, they were kicked out of the convention. Someone had leaked info to the staff that IMMU was not presenting new data, as they had recently released the same data in a presentation to analysts. The deal was the convention was to be first to hear results of what was supposed to be a very promising update of their trial studies.
The CEO tried to argue that they had new data but with the leak occurring hours before their presentation, there was no way he could make his case. The news pre-market the next day was IMMU was kicked out of a prestigious oncology conference and the stock obviously dropped like a rock hitting somewhere around $2 down from $5-$6 in just a matter of days Myself and many others were scared off and sold our stock and there were all kinds of grumblings of a short scheme. So, I am concerned about the amount of money invested in short positions and think there surely has to be another plan to try and somehow discredit the company. I could not find the mid July short report yet, it should be out any day, if not already and we can see if the US short positions are still increasing as they have for the past 3 months.
One other thing, naked shorting is illegal in the States for all but the market makers. So, that may be how so many shares are showing up in the states. If so, there is far more money at risk and if the short positions do not close out soon, I would think they have some type of scheme to scare people out of their shares for the shorts to be putting up a potential $12-$20mm just in the States.
One last thing, IMMU closed yesterday at 26U$, a very nice gain from 2 years back when I sold somewhere in the $2 range. The scare tactics worked well on me. My only saving grace is that I took my loses and bought VLE shares.
I thank Shaw again for doing a quick significant update to bring this to our attention as it is way out of the norm imo.