IMMX - Possible "Short Squeeze" or Swing Trade

I was just scrolling through Reddit out of boredom and ran into IMMX. I’ve actually been seeing it for a few days and assumed it was a regular pump and dump. Well, turns out it might be otherwise. I haven’t looked at the company itself and what it does as I don’t believe that’s relevant to the data that makes it squeezable. I will keep this simple.

  1. Short interest

The SI is at least 60% (801,714/1,340,136). (exchange reported short interest as of 1/14 / registered securities according to 8k).
https://sec.report/Document/0001493152-22-001557/


Yahoo finance itself has the float at 1.29M.

S3 has the SI between 58%-136%
https://twitter.com/ihors3/status/1489725068355805191?s=20&t=NxMMFwg1JUyFJhl3BSvr9g

  1. The cost to borrow is at 71% according to IBorrowDesk and Fintel.

  2. The chart seems to show an incoming breakout triangle. I would say at $0.80 from the recent IPO price, with these numbers, the downside may be minimal, but not impossible for it to go under.

  3. FTD’s have been fluctuating at values up to almost 20% of the float. I believe this is a historically relevant pattern of different stocks that ran up for similar reasons.

One thing I’m uncertain about is a recent filing regarding employee benefit plan share offering. See link: https://sec.report/Document/0001493152-22-002194/

Would love to hear your opinions and other perspectives. It seems to be a good swing trade if not a short squeeze candidate.

2 Likes

If it were me, I would treat it as a scalp mostly due to the lack of options on it and how new the stock is to the market.

Just read the discord with Conq stating SENS shorts generally need to be at 20% loss to be at squeezable territory. IMMX is at 16.5% with bullish pattern. If it continues it may very well reach there.