This post was just published on ZYX Short Sell Change Alert
This position is short from $13.85. Substantial profits have already been booked but there is still material unrealized profits.
Consider taking partial profits on a 10% tranche of ZAGG right here around $8.19. After this fill, 50% of the full core position size will be held.
The reason for taking more profits here is because there may be a short squeeze after the introduction of iPhone 5. iPhone 5 will have a different form factor than previous iPhones. There will be speculation that people will have to buy new cases for iPhone 5 and ZAGG will be a beneficiary.
