I guess I was talking more about the move today rather than the positive trend since HY.
You are both right about the general positive outlook and about short levels being below historical lows.
I'm not convinced today's move is due to shorts closing because short levels are already so low - below 2 percent as of last Monday. That equates to only around 14M shares or perhaps 2-3 times the average daily volume. Yes, perhaps it could impact if they all were closing at once but even then you would suspect some kind of catalyst for it.
I am thinking there's some strong institutional buying happening at the moment - I guess we will only know if / when the substantial holder notice appears.
A2M Price at posting:
$8.40 Sentiment: Buy Disclosure: Held
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