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OMTTrading
2021-06-08

When I saw CLOV was surging in pre-market, I should have bought. It went past 18 today. So unlucky. [流泪]

Clover Health jumps 45% as the Reddit trading mania spreads to more stocks

Passionate day traders glued to their Reddit message boards have found some new targets —Clover Heal

Clover Health jumps 45% as the Reddit trading mania spreads to more stocks

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It went past 18 today. So unlucky. 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Wendy's stock climbed more than 15% on no apparent news about the fast food company.Chatter about the duo grew on Reddit's WallStreetBets forum, which now has more than 10 million participants. The infamous chatroom has been all overAMC Entertainmentin the past week as traders piled into shares and call options of the movie theater chain and drove the stock up more than 110% in June.A short squeeze could be at play for Clover Health, which has 32.7% of its float shares sold short, according to data from S3 Partners. That compares to about 18% short interest in AMC. When a heavily shorted stock suddenly jumps high, short sellers are forced to buy back shares and close its short position to cut losses.Retail traders on Reddit are encouraging each other to take advantage of the big short interest in Clover and aim to squeeze out short sellers.\"This looks like the perfect setup for a combined short and gamma squeeze. 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