SciFrog:

Well if you are short the stock you need to justify it one way or the other... 35% short of the float... massive...

It's an easy stock to short though. No yield, lots of liquidity, easy to get borrow. I think it's telling that there are no activist investors of note that publicly own the shares though. You'd think that with such a large amount of short positions there would be at least one activist of note and there isn't. Also there isn't 35% short it's 38.3M shares or 22.67% (which is still a lot!)

Just like a lot of other "name brand" stocks that people think they understand because they have a day to day interaction with there are a lot of investors that think they are smarter then they actually are. In both directions. That momentum isn't rational and leads many less sophisticated investors to gamble rather than invest. 

The market can remain irrational longer than you can remain solvent.
--

 

Past-President, Porsche Club of America - Upper Canada Region