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That's how many shares are short on one of my favorite investments right now.
With a total of 304 million shares outstanding, we're talking about 32% of this company's stock that has been sold short by traders who think the share price is going lower.
The thing is, over the last couple of years, these bearish bets have been absolutely correct, and they've generated some outstanding profits as the stock price has dropped.
I know old habits die hard, but the time for this particular short play is over. The stock has fallen from $40 a share in January 2012 to around $9 today (the 52-week low is around $5). The downside profits have been made. The odds of another sharp move lower have declined dramatically. (more)
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