Yesterday, SportsQuest, Inc. (PINK:SPQS) changed the world for its shareholders. Those who had short position rejoiced at a 75% decline in the share value but the long positions were wiped out in a matter of hours.
Yesterday, SPQS shares went from $0.14 to $0.0349 on a volume of 2.8 million shares. The official website of FINRA indicated that 1.626 million shares were sold short the same day or nearly 64% of the total trades.
SPQS crashed down even though it announced that the company had acquired... more