Or it might even be already ongoing.
13% of PARA outstanding shares were shorted according to the latest Yahoo finance statistics.
The company future was gloomy due to its profitability issues caused by the DTC segment (which was heavily critized) and their high debt interests.
But now shareholder sentiment has changed.
Management has proven to be trustworthy and capable. They reached profitability, as Bob Bakish was forecasting, even before expectations.
So the great growth in earnings that they are projecting for 2024 looks real and feasibile.
This might be the catalyst to see the stock going back to historical values in the long term.
What might happen (or be happening already) in the short term is that most of short sellers will begin to close their positions, therefore they might pump the market price.
Have a good weekend!
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