So it would stand to reason that should some unexpectedly good news come out, and short sellers did not have 8 days of patience but instead wanted to cover their short positions very suddenly, that situation could result in sending the stock higher until the higher price produces enough sellers to generate the necessary volume to close out those positions quickly.
Skullcandy Inc (SKUL) has something relatively rare for a stock with this much short interest, that being insiders taking the other side of the trade. Looking back over the trailing six month period, SKUL has seen 2 different instances of insider buying, as summarized by the table below:
|03/14/2013||Kyle B. Wescoat||SENIOR VP AND CFO||15,000||$5.25||$78,750.00|
|05/10/2013||S. Hoby Darling||PRESIDENT AND CEO||10,000||$5.41||$54,075.00|
Below is a chart showing the "days to cover" for SKUL over time:And looking at the chart below, SKUL's low point in its 52 week range is $4.80 per share, with $16.75 as the 52 week high point — that compares with a last trade of $5.40.