From Short Squeezes To Silver

Two ounce Canadian silver "Kraken" coins via user u/Geltmascher on the Silverbugs sub-Reddit. 

Heavily Shorted Top Names Fared Well

Last week, two heavily-shorted stocks made our daily top ten names list. Both have fared well since. Here, we'll briefly update their performance, and then turn our focus to silver, which was prominently featured on our top ten list on Monday. 

Fulgent Genetics Update

In a post last week (AMC Goes Parabolic), we mentioned that AMC had been one of our top ten names on April 1st and we wrote about looking for the next short squeeze candidate. We included this graphic showing the most heavily shorted stocks as of last Wednesday. 

Screen capture via ZeroHedge.

Then we noted, 

One of those names, Fulgent Genetics, Inc. (FLGT), was one of our site's top names on Tuesday. It's the top performer from Tuesday's top names cohort so far.

Since then, FLGT shares were up 16.44% as of Monday's close. 

Screen capture via Portfolio Armor as of 6/7/2021. 

AMC Entertainment Holdings Update

Over the weekend, we expressed our surprise at AMC Entertainment Holdings (AMC) appearing in our top ten again on Friday (AMC: Another Chance To Be Wrong): 

I hadn't planned on writing about AMC Entertainment Holdings (AMC) again this weekend, but the stock hit our top ten names again on Friday.

Screen capture via Portfolio Armor on 6/4/2021.

That's the first time AMC has appeared in our top ten since April 1st, when it was trading at $9.36.

On Monday, Robert Sloan of S3 Partners told Bloomberg TV's Matt Miller that AMC was still a prime short squeeze risk. 

Screen capture via Bloomberg's Twitter page

AMC was up 14.8% Monday. 

As we've mentioned before, the huge rally in cryptocurrencies earlier this year had sucked some of the speculative fervor out of meme stocks like AMC; Bitcoin languishing over the past week likely contributed to AMC's renaissance. 

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