Was reading this on AFR and find it quite interesting (just snippets of the article here)
I was thinking about that EOS auction close up today... 5.84% short interest.Social media ignites trader rage on the US stock market
It’s a trend that has rightly set alarm bells ringing and which presents short sellers with a new threat.
The strategy is simple enough. Pick a cheap, unloved stock - preferably one that has been heavily shorted by hedge funds - with a low market capitalisation and whose share price can be measured in pennies. Then pile in, using social media as a bullhorn to steer concentrated buying by a herd of other like-minded small investors to drive the price higher, ideally triggering a short squeeze.
Lolz. Poke fun at the shorts while picking up a Disallowed. Short sellers in GameStop, which plans to shut 450 stores this year, are down $US5 billion on a mark-to-market basis in 2021.
Several hedge funds were left squealing this week, to the delight of the Reddit day traders riding the trend who depict themselves as David in a battle against Wall Street’s Goliath.
EOS Charts, page-1489
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Last
$1.58 |
Change
-0.045(2.77%) |
Mkt cap ! $304.8M |
Open | High | Low | Value | Volume |
$1.59 | $1.61 | $1.57 | $335.5K | 212.4K |
Buyers (Bids)
No. | Vol. | Price($) |
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1 | 1311 | $1.58 |
Sellers (Offers)
Price($) | Vol. | No. |
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$1.60 | 5653 | 4 |
View Market Depth
No. | Vol. | Price($) |
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1 | 1311 | 1.580 |
1 | 1889 | 1.570 |
2 | 7295 | 1.565 |
4 | 45474 | 1.560 |
3 | 4254 | 1.555 |
Price($) | Vol. | No. |
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1.600 | 5653 | 4 |
1.605 | 1653 | 1 |
1.610 | 1653 | 1 |
1.615 | 1653 | 1 |
1.620 | 7453 | 2 |
Last trade - 16.10pm 08/05/2024 (20 minute delay) ? |
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Last
$1.59 |
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Change
-0.045 ( 0.87 %) |
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Open | High | Low | Volume | ||
$1.60 | $1.60 | $1.57 | 28381 | ||
Last updated 15.59pm 08/05/2024 ? |
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