16 short-squeeze targets in the stock market, including Canoo, Tootsie Roll and a prison operator

  • 📰 MarketWatch
  • ⏱ Reading Time:
  • 79 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 35%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Which stocks may be good targets for short squeezes? Consider this table a tool that traders can use as part of their own research:

In the world of meme stocks, the most important factor for traders looking for quick gains is probably the concentration of comments about companies in Reddit’s WallStreetBets channel and other social media outlets. But numbers can also point to stocks that may be set up for short squeezes that can be lucrative for traders with excellent timing.

The move has paid off for at least some of them. This year through June 17, shares of GameStop had skyrocketed 1,087%, while the company’s stock-market value had surged to $16.06 billion from $1.31 billion at the end of 2020. AMC Entertainment’s stock has leapt 2,765% for 2021, while its market cap has increased to $30.47 billion from $348 million at the end of 2020.

In discussing his own method for selecting potential short-squeeze candidates, Matthew Tuttle, CEO of Tuttle Capital Management in Greenwich, Conn., said he begins with “a 10/10 rule”. That stands for short interest of at least 10% and at least 10 days needed for short-sellers to cover their positions in a stocks, if all decided to do so, based on average daily trading volume. Days to cover might reflect low trading volume for a stock, creating a special opportunity for a squeeze.

To put this list together, we began with a group of 4,394 stocks listed in the U.S. and Canada of companies with market caps of at least $300 million. Among these companies, 263 hit Tuttle’s “10/10” threshold.GameStop and AMC Entertainment didn’t make the new list. Short interest for GameStop is high at 20.96%, but that is dramatically lower than the 138% on Jan. 26. It would now take short-sellers only 1.5 days to cover.

On the list you can see some stocks have shot up this year, or over the past four weeks. Big gains don’t mean there cannot be another short squeeze. Read: It’s meme stock Whac-A-Mole as retail crowd shifts from Petco to pickles to electric cars in two days

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Spreading BS again. Typical. AMC holders all in the green, knowing the facts, while you spread crap and hedgies are down.

🤣🤣🤣

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines