WISH. Reddit strikes again:

    • 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.

    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. 

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