SNDL : Just bought 10,000 shares
Stocks moved higher Tuesday as the broad S&P 500 index closed the session up by about 2.1%, but meme stocks GameStop (NYSE:GME), AMC Entertainment (NYSE:AMC), and Canadian cannabis company Sundial Growers (NASDAQ:SNDL) experienced more significant gains of 6.5%, 7.8%, and 4.1%, respectively.
So what happened?
These three names are still targets of meme-stock-focused retail traders. Part of the reason for that is the continued high short interest in the stocks. As of Nov. 15, 28% of Sundial's share float was still sold short, while there was 10.8% short interest in GameStop and 17% short interest in AMC, according to data from MarketWatch. It's likely that large fractions of the shareholders in these companies are just waiting for the holders of short positions to move to cover their positions and drive shares prices up via short squeezes. But at the same time, the companies themselves continue to work on improving their underlying businesses.
SNDL looks pretty enticing and the chart prediction looks amazing:
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