May. 10 at 8:12 PM
$PLAY based on how she's been moving the past few weeks, I'll say it's a slow grind down to
$7-8. Unfortunate, but there's still room for some more short crowding. May be rangebound this week, but after opt expiry it'll dip below the next sticky max Put OI level of
$10. Not sure if the new CEO is even doing anything to meaningfully improve the business, no press releases, no new news on marketing efforts, and no other business metric updates. Short interest is 31% w/ 4.8 days to cover, so still room for more shorts and selling pressure, maybe even she goes below
$5 at which point institutions will liquidate. If you're long on this, don't feel too bad, the CEO's option's are worthless and his market purchase of share is down ~50%. The CEO should be seriously grilled at the next general meeting, I feel bad for the shareholders that had their value absolutely eroded.
