Hummmm,,,,now let me see.....shorted from $1.70 down to $1.20,,,,,average short price lets say $1.45....so now you have a percentage under water by .16 cents,,,,and also have to buy back the 1,000,000 shares to exit your position,,which is probably within that .09 cents from the $1.36 here to the $1.45...if ya get them back on the way up the $1.70 your play is basically in vain!!!,,,,,,,,,,,all along having the risk of news. So,,nope it would seem the short position opened here is probably to offset some sort of a long position in some form or fashion thru a firm or institution,maybe,,,just assumptions here of course!..jmo