Been doing a lot of reading today and my theory is that its linked to other short squeezes. BBBY super heavily shorted stock announced an eCommerce collaboration and share buy back plan. Stock up 10% and currently up 60% in pre market. This caused a number of other heavily shorted stocks (or meme stocks) to also see increases overnight and in pre market. (eg GME / Gamestop). Lots of news about brokers banning short selling on certain stocks eg the Trump stock and GME. Increasing margin requirements - It is possible that these surges are causing anyone that is short to be closing other short positions to reduce exposure or free up capital. If that is the case, it would be amazing for us given our current short position.
That said, the volume really low so could just be nothing.
However, this is what i was thinking today and seems to line up with a pre market increase, so lets see.
Been doing a lot of reading today and my theory is that its...
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Last
$1.18 |
Change
0.090(8.29%) |
Mkt cap ! $1.358B | |||
| Open | High | Low | Value | Volume |
| $1.12 | $1.20 | $1.11 | $8.417M | 7.209M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 79638 | $1.17 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.18 | 49086 | 9 |
View Market Depth
| Last trade - 11.11am 06/05/2024 (20 minute delay) ? |
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Last
$1.17 |
Change
0.090 ( 7.93 %) |
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| Open | High | Low | Volume | ||
| $1.12 | $1.20 | $1.12 | 1805637 | ||
| Last updated 11.30am 06/05/2024 ? | |||||
| MSB (ASX) Chart |