ContextLogic (NASDAQ:
WISH) shares surged as much as 16% as
the company garnered more attention on the WallStreetBets Reddit
forum.
The discussion sees ContextLogic as a potential short squeeze.
Short interest fell from a high of 57% in early May to 12% this
week, according to Markit data via Bloomberg.
Posted by rollerblader on 8th of Jun 2021 at 04:01 pm
Why would the stock squeeze/pop so much when the short interest
is only 12% compared to when it was at 50+%? What am I missing
here? I did have a few Jan/22 otm calls and just sold for 100+%
IDK, all I do know is what attracted me to the pattern, was very
oversold and had a bullish falling wedge with MACD divergence
coming off the bottom vs something overbought like a breakout play,
so once price movement created a catalyst was enough energy there
to cause it to pop hard
WISH. Reddit strikes again: ContextLogic (NASDAQ: WISH)
WISH follow up
Posted by steve101 on 8th of Jun 2021 at 02:36 pm
WISH. Reddit strikes again:
Why would the stock squeeze/pop
Posted by rollerblader on 8th of Jun 2021 at 04:01 pm
Why would the stock squeeze/pop so much when the short interest is only 12% compared to when it was at 50+%? What am I missing here? I did have a few Jan/22 otm calls and just sold for 100+%
IDK, all I do know
Posted by matt on 8th of Jun 2021 at 04:04 pm
IDK, all I do know is what attracted me to the pattern, was very oversold and had a bullish falling wedge with MACD divergence coming off the bottom vs something overbought like a breakout play, so once price movement created a catalyst was enough energy there to cause it to pop hard
Glad this was on the
Posted by bverse on 8th of Jun 2021 at 02:38 pm
Glad this was on the BPT list a while back. Enjoying the ride.