There seems to be another company that is going thru a short squeeze target. Ticker TBLT.
TBLT is shorted 113.81% of the float. How the hell does this happen???
Shares outstanding is 2.13m with 1.m float.
Reddit sentiment has been growing!
Stockwits has 28k people on their watchlist.
TBLT had an AH movement of 35K volume breaking 3$.
I will see if i can toss some dollars if it goes below 3
I bought a little position. Looks like they reported increased sales
Don’t think theres chance of a short squeeze considering the insane volume this thing sees, but being over 100% shorted is a good catalyst for reddit to pile in.
Just a shame theres no options.
I picked up a few shares ah for 2.79
Going to start accumulating shares from 2.40 - 2.60 area.
Currently its at 2.73 but since its micro float, I want to be safer on my entry.
Tight stop losses.
Well, who ever got in should be up 250%. Momentum is still building and stock is still shorted 170%…
Crazy candles of green. Congrats on whoever is in.
taking out profits.
Will be interested in doing a post mortem on this one. The short position is miniscule and there (thus far) hasn’t been any signs of it going down. So up until this point it looks like a retail pump, I’ve set a reminder to come back to this next week and see what the data from today looks like. Thanks for the callout and the DD
Fully out of TBLT. Might get back in next week as it “COULD” continue to ramp up to huge gap of 14.98 & 22.
made 2.5k overall profit as I made some bad bets with oil. Using 2.5k to pay down my 2009 semester student loan with 2.8k left over.
So sentiment on TBLT has increased heavily over the weekend. Lot of Reddit/Twitter/Stockwits activity.
What I personally think, I do expect a short premarket/live market pullback to $7. If it falls below it can go down to 6/5.50. I f it jumps off that $7 support it can go past 9.38(previous high) and push 10+. I think the 13 dollar wall is where it can go and test whether the squeeze can continue for the day. If it rejects then this falls down back to 5 and play is somewhat over. This is just what I think.
Most of my cash is unsettled but I will toss my last paycheck into the 7 - 7.25 range. Hoping it goes well.
TBLT did a private premium offering worth $20m. I am currently staying away
So I did some searching and looks like the sale is towards an institutional holder @5$ For 4m shares and option to purchase more. The underlying play is still on but fear has taken hold.
Also stock bounced perfectly off the 5.50 support earlier keeping an eye and on sentiment.
Wanted to do a slight update:
The play is still technically on. SI has increased during the day from 119% to 198% which is nuts. Note, there are shares that were covered today due to the news.
Technically the shares are for an institutional investor AND at a premium at 5$ (when last time they offered it at $1.90 in June?). So that means an institution thought this is a worthwhile investment. Why would an institution buy at a premium of a penny stock? This question that I raised was also raised by another trader on twitch (Twitch)
People dont understand the share offering and think dilution and cashed out today. A lot of fear has taken hold but fundamentally a squeeze can happen. As stated earlier, a bounce did happen at 5.50 and was staying between 5.50 - 5.90 and testing 6.00/6.25 earlier today. To me this is bullish BUT shorts has fuel to push the shares down.
In order for the squeeze to happen there needs to be volume. Tomorrow/Wednesday is going to be crazy with earnings and fed talk so IDK where the share price is going to go. but im watching this like a hawk as there is a CHANCE that this can push to 10 and my earlier statement of 13/14$.
Hopefully some of my cash clears up tomorrow or wednesday so I can test the waters but know that shorts will try to push this stock down but with strong volume, we can see this go crazy.
Also of note, Im stupid and hope i make more money on this.
What are the catalysts for this to push again past $9? Just the short interest?
Premarket Drop to $4.93, not sure if this interrupts the play since it dropped below that $5.50 support.
It is losing steam imo but we want it to stay above the 5$ support on open
I’m only watching and seeing… not entering be careful here.
I’ve decided to add shares here at the 5.77 level. 750 shares. I’ll add on big dips or avg up. I expect some volume to pick up to set to $6.
Do you know how short squeezes work? How do they play out?
This stock is shriveling my nuts… how does one short a stock 248%
I’m in 1k shares at 5.73. Have more cash to avg down during premarket short dump.