Re: NVAX- Reverse Conversion
I don't know if shorts are covering, but the interest rate on loaned shares has decreased steadily over the past week or so. That seems to be an indication of less demand, but NVAX is still listed as Hard To Borrow.
I didn't realize Shorts could have agreements that last for a finite amount of time. I figured all the borrowing agreements were opened ended until the borrowed shares were either recalled by the lender or returned by the short when they covered their position.
All this shows is there are much more complicated transactions happening behind the scenes than most retail investors know or , in my case, even understand. Thanks for the education Grampa!