Aggressive Reddit Short Squeeze Activity Still At Play
The 29 Reddit stocks with short interests in excess of 30% (see previous TalkMarkets article here) have declined 3.8%, on average, in the past week with 12 advancing. 5 of those stocks are still up (by 19.5%, on average) since the short squeeze began in earnest on January 15th but it appears that the hype is abating . This article takes a look at the short interest stock activity this past week and their performances since mid-January.
The major decliners last week - with their performance since January 15th in brackets - were as follows.
- National Beverage: (FIZZ) -52.7% (-46.3%) to $47.66/share
- Fulgent Genetics: (FLGT) -23.9% (+43.2%) to $101.26/share
- Ontrak: (OTRX) -19.7% (-12.7%) to $58.94/share
- Accelerate Diagnostics: (AXDX) -18.9% (+8.5%) to $10.01/share
- Zynex: (ZYXI) -18.7% (-12.1%) to $14.52/share
- Vir Biotech: (VIR) -18.2% (59.3%) to $62.63/share
- Naked Brand: (NAKD) -14.8% (+131.1%) to $1.04/share
- Clovis Oncology: (CLVS) -9.2% (-7.3%) to $5.99/share
- Beyond Meat: (BYND) -9.2% (+3.8%) to $145.48/share
- CarParts.com: (PRTS) -9.1% (+36.3) to $17.73/share
- SunPower: (SPWR) -7.9% (+8.8%) to $34.77/share
Another way to look at how the high short interest stocks are doing is to track those short interest stocks that have continued to increase in price and, in doing so, remain thorns in the side of the short-sellers. The major advancers last week were:
- GameStop: (GME) +150.7% (+186.6%) to $101.74/share
- AMC Networks: (AMCX) +30.5% (+56.0%) to $65.59/share
- KOSS: (KOSS) +18.9% (+476.2%) to $16.71/share
- Seritage: (SRG) +12.5% (+35.2%) to $20.19/share
- Tanger Factory: (SKT) +7.8% (+24.7%) to $15.74/share
The remaining 13 high net short stocks have gone up or down in price by less than 7.5% in the past week.
The above analyses suggest that the Reddit short squeeze trend may be waning but it is too early to conclude that the short squeeze is over.
(For more extensive financial information, charts, news releases and articles, and up-to-the-minute stock prices click on the stock symbols provided by TalkMarkets.)
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Of course, playing the squeeze game can be fun if other people's money is used. And much less risk as well. But making money dancing the squeeze demands perfect timing, as well s willing buyers.