Hybrid Technologies, Inc. (HYBR.OB) Sees Shorters Cover as Share Price Continues to Increase
On the 18th of last month, we reviewed the heavy short position in Hybrid Technologies stock when it was trading for approximately $3.50. Since then the stock has continued its bullish uptrend, reaching a high of $4.65 earlier this week; a 32.9% increase. Those who have shorted have appeared to recognize the value and potential of this stock as reported numbers have shown a reduction in shorted shares. As explained earlier, shorting is the opposite of buying. Instead of buying and then selling at a later date, a trader sells shares he doesn’t have and then later buys them back…