EarningsBeats.com Digest for May 28, 2021
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The Short Squeeze Trade Is Back!
It's been 4 months, but short squeezes are back in fashion. Our Short Squeeze ChartList (SSCL) at EarningsBeats.com is now producing several great candidates for potential short squeezes and they appear to be underway. On Wednesday, in my Daily Market Report, I unveiled six potential trade candidates to take advantage of this possible surge. One that is extremely volatile and very risky is Koss Corp (KOSS), which was provided to members on
Wednesday near 21.00. It closed yesterday at 22.82 and in pre-market trading this morning was just above 25. That's nearly a 20% move in less than 48 hours. It may just be beginning:
Let me be very clear about one thing. KOSS could open at 25, trade below 20 and end up at 30. It's that crazy of a stock. Look at the above chart. There's nothing sure about this chart from day to day. It seems to move whichever way the wind blows. But after several weeks of downtrending on much lighter volume, you can see that volume has picked up considerably the past few days. Today will likely top the past few in
terms of volume. But where will the price end? It's never easy to predict price swings with highly-shorted stocks, but there is a short percentage of float that totals 25.76%, so it's likely that shorts will begin to feel the pressure and if they begin buying en masse, then we could just be scratching the surface as to the short-term gains here.
Happy trading!
Tom Bowley
Chief Market Strategist
EarningsBeats.com
Better Timing. Better Trades.
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