People are saying the bondholders are shorting the stock as a hedge against the $800M in debt. It seems like that would be considered insider trading since they have knowledge of the refinancing negotiations. The company is held hostage by the bondholders because they drive down the price of the stock which gives them more leverage in the negotiations.
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Elon could by us with the spare change he keeps in his wallet.
At this point I dont know why anyone would be short. W/a market cap of $75 million there's not much meat left on the bone.