Biggest Squeeze in a thousand years??
*** THIS IS NOT FINANCIAL ADVICE.****
SMX has relentlessly been shorted since February 2023. After multiple reverse splits this company's float shares are less than 300K. The short interest on Nasdaq shows a whopping 300% (not sure if this accurate though).
Market CAP just over 1million
Shares float under 300K
Short interest over 100% (possibly)
I believe that we are in bubble phase of Markets and now most shorts will start to cover so they can short the same stocks again.
The stock could very well squeeze to .618 retrace on the fib which is about $2400. Unlikely but possible.
Could be a windfall, but this could also go down to zero so I will only what I can afford to lose.
SMX has relentlessly been shorted since February 2023. After multiple reverse splits this company's float shares are less than 300K. The short interest on Nasdaq shows a whopping 300% (not sure if this accurate though).
Market CAP just over 1million
Shares float under 300K
Short interest over 100% (possibly)
I believe that we are in bubble phase of Markets and now most shorts will start to cover so they can short the same stocks again.
The stock could very well squeeze to .618 retrace on the fib which is about $2400. Unlikely but possible.
Could be a windfall, but this could also go down to zero so I will only what I can afford to lose.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.