Company goes up almost 20% after laying off 8% of its employees to save $10 million dollars when it it is losing $40 million a quarter. I not sure what the market was drinking today, but definitely getting more puts on this one.
I noticed this week that FSR has a high short ratio. Its financial situation looks tenuous right now, so I am inclined to agree with the shorters. I am not an expert on this company though. I am inclined to buy puts with expiration a few months out. I am assuming some of these shorters are larger hedge funds that will force it down soon. Any thoughts?
