Opinion: Longeveron is the shortcut Reddit Apes can thank for this year
Short sellers really should have thought twice before betting huge against a company literally named Longeveron LGVN,
Retail investors struck again, executing another short squeeze of a relatively anonymous stock, pushing Longeveron shares another 145.6% on Wednesday to take its five-day gain to over 1,000% as interest in Short term for the stock fell, indicating that short sales were hedging after coming out of the balloon air on Wednesday.
A day after the sale, interest was at nearly 120% of the free float, according to data from Ortex, a statistic that has baffled and angered many retail investors who are still willing to grapple with the funds. open-ended speculative that they so publicly despise. , the percentage had shifted to around 80%.
While some retail investors appeared on Tuesday ready to take their profits and start cooking their turkey dinner, letting the stock drop nearly 40% on the too big day to hold up on Wednesday with high short-term interest and stocks fell. trader at a meme-stock “discount”.
“If everyone can hold on, it can be triple digits,” Reddit useritz_pancheetz posted at noon Wednesday, with the stock hovering around $ 30. “With hedge funds covering and people holding. “
The user even compared Longeveron’s short interest to that of GameStop GME,
the biggest of the memes stock short-squeeze dragons that many retail investors are still chasing under other names while hoping the big MoASS will finally come for the video game retailer.
It wasn’t Wednesday, however. GameStop shares fell nearly 1% on the day.
Either way, Reddit’s Longeveron-lovin ‘Apes are happily heading into the Thanksgiving holiday reveling in a huge bounce and short-term interest dropping nearly 40% a day thanks to another signal that institutional short sellers cannot rest easy while monkeys roam data platforms.
But, for now, as one Twitter user so kindly suggested, it’s time for everyone in memes country to just take a day to thank each other.
MDR. They are just taking a break and will be ready to pick it up for a few hours on Friday’s shortened trading day.