Buyins.net revealed its latest short sale data for Extreme Motorsports. Buyins.net is a service that builds massive databases from data it collects and analyzes in order to help shareholders fight short selling.
Buyins.net reported that about 5.3 billion shares of ETMO.PK have traded for a dollar value of almost $14.4 million, and that approximately 410.6 million shares have been shorted at a volume-weighted average price of $0.0027.
The website expects the first short squeeze to occur when shares close above $0.0003, where approximately 12 million shares have been shorted. A short squeeze is a well known situation where shorts must begin to cover their short positions. When this happens, the squeeze rapidly increases the price per share as short positions are covered.
Below is a table with the information Buyins.Net provided:
Month Total Vol. Short Vol. Avg. Price Short $ Value
September ’06 871,728 67,123 $0.4300 $28,863
October 384,492 29,606 $0.1800 $5,329
November 2,586,923 199,193 $0.1200 $23,903
December 9,070,365 698,418 $0.0535 $37,365
January ’07 28,699,086 2,209,830 $0.0102 $22,540
February 356,084,960 27,418,542 $0.0143 $392,085
March 771,139,328 59,377,728 $0.0046 $273,138
April 602,870,912 46,421,060 $0.0020 $92,842
May 1,056,046,208 81,315,558 $0.0012 $97,579
June 1,867,230,592 143,776,756 $0.0008 $115,021
July 476,675,680 36,704,027 $0.0005 $18,352
August 160,415,808 12,352,017 $0.0003 $3,706
Total: 5,332,076,082 410,569,858 $0.0027 $1,110,723
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