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Focus Media: Short Squeeze Developing?
Posted on June 23, 2008
As of the latest short selling report, the number of Focus Media (FMCN) shares sold short stands at over 21M or more than 16% of the company's total outstanding shares. Short sellers have capitalized beautifully on what has amounted to a perfect storm for the company s share price. The first tempest came in the form of a massive sell off in shares of China based companies that began late last year and continues to this day. The second came in Q1 as a result of the company being forced to discontinue their mobile advertising business after it was determined to be sending what amoun...
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