Tilray Stock Soars: Are Short Sellers In Trouble?
Before you grab your pitchforks and get your panties in a knot because I said the words “short squeeze”, let me say this isn’t a ‘get-rich-quick sHoRt SqUeEzE to the moon’ post. This is data and facts.
According to the latest Yahoo Finance data update, about 13% of TLRY’s float is being shorted.
While that float probably isn’t high enough for a major short squeeze, any short interest above 10% is generally considered elevated. That should raise warnings on BOTH sides; bulls should be concerned about underlying fundamentals, while bears should be concerned about the possibility of a squeeze if short interest continues to increase.
The already heavily-shorted stock has seen even more interest from short sellers as of late, despite its profitable fiscal Q2 earnings surpassing Wall Street’s earnings estimates, and Tilray’s feat of reporting positive EBITDA for the 11th consecutive quarter.
Just keep this stock in the back pocket of your watch list and please comment, even if you’re of the opposite opinion.
*DISCLAIMER: This is not investment advice. DYOR.
Submitted February 11, 2022 at 08:48AM by sexyindian6969
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