Just like Open Range was bought out in Aug/12 at a $1.44per share with this same management team. Competitors of PSN will wait until this company self destructs before stepping in and why buy it when they can now more than at any earlier times can successfully compete with the wounded duck....PSN is in trouble period. Good luck to buyers of the stock going forward.
Shorts before the market opened on the 14th was less than 5% of the float. New short players after the open on the 14 th, are you crazy! The volumes on the last two days was simply day traders and pros taking advantage of the situation, great churning, it happens all the time when companies have to report bad results. Concerning the Investment Houses updated reports and revised price targets, they were wrong by more than 50% the first time and they are now going to be right this time because in two days they have all conducted independent D/D and reassessed the marketplace, O YA. They have just reformatted what Company management has told them.
Some short positions were likely covered in the past two days, those holding open short positions are not concerned with any squeeze attempts given how much they have made so far and most short positions will hang around with open exposure until the Company has to release year end Financials.
If you are a gambler you may be lucky enough to make trading profits on PSN but if you are a real investor you may want to stay away until the Year End AUDITED reports are available...so far all info has not been certified by a qualified third party.