GameStop and Virgin Galactic among stocks rallying in all-out assault on shorts

Global Markets Stocks and Indexes
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The U.S. stock market is seeing a huge amount of buying action in stocks that have been heavily shorted over the last few months.

  • Nokia ($NOK), though not heavily shorted, gained 13%
  • Kodak ($KODK) up 30%.
  • Angi Homeservices ($ANGI) gaining 11% to $15.40.
  • Tootsie Roll Industries ($TR) is up 52.95%.
  • Dillard’s ($DDS) is 22.1% higher.
  • Express ($XPR) is adding to its gains with a jump today of 123.68%.
  • National Beverage ($FIZZ) is soaring with a 39.05% jump already.
  • iRobot ($IRBT) is 33.85% higher to carve out a new 52-week high of $175.35.
  • Sirius XM ($SIRI) is jumping with a 7.2% gain.
  • Virgin Galactic ($SPCE) is 4.25% higher and is now up 34% over the last five sessions.
  • PetMed Express ($PETS) is flying with a 28.87% gain and printed a new high of $51.15.
  • GSX Techedu ($GSX) blasted 33.89% higher to reach a new high.
  • Tanger Factgory Outlet Centers ($SKT) is up 24.72% as shorts are being pressured.
  • DoorDash ($DASH), which is up 17.17%. DASH has a higher level of short interest than most IPO stocks in their first year of trading.*
  • Fossil ($FOSL) is showing a gain of 26.48% to trade as high as $16.00.
  • Macy’s ($M) is 17.85% higher as the heavily-shorted mall name sails on heavy volume.
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Why isn’t AMC on this list…?

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Also BB. :sweat_smile:

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Yes, those names also:

  • $AMC
  • $BB
  • $KODK
  • $NAKD
  • $GME
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Did you join this fiasco btw? :sweat_smile:

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Of course! Need to be part of history. This will end one day, and there’s a chance it will not end well for many people. It’s unfortunate, but, a requirement to remove extreme froth and greed. The risk is spillover and loss of confidence to the broader markets. SPY down yesterday but up today is a good sign, but, if SPY comes under pressure look out below.

There are many conflicting forces at play. :slight_smile:

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I still haven’t invested in any stocks or shares. What does everyone use to buy stocks and shares

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Got in on a few but a bit too late for some lol. If you spot any more, hook a forum friend up LOL.

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Haha. It’s never too late…but, you should also never take advice from any internet stranger (let alone a degenerate gambler such as myself). :wink:

People thought it was too late when GME was @ $10, $50, $200, $250 etc etc :slight_smile:

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I made some coin today thanks to a bunch of degenerate gamblers so def open to considering a stranger’s advice on the interwebz lol.

Man TODAY it’s too late for GME for me hahaha. Should have joined in when it was in the $100s.

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I think that the run up overnight was impressive-- typically after that you see a shake out (today)- and then sideways action. I think the real test is tomorrow when the Jan 29 weeklies expire. Things will prob be calm overnight and in the AM start going nuts.

It’s been absolutely insane to watch this go down and how much visibility across the globe it’s gotten. I’m still in AMC and plan on holding for at least 1 more week. The problem today was the inability for retailers to open new positions. I got locked out on WED so it’s basically been a one-sided market which is absolutely disgusting and shameful. I understand why the brokerages did it, but, it’s not right.

Tomorrow I think will set the tone for next week. GME and AMC have pulled back to reasonable prior resistance zones.

For AMC the line was around 7.50. That held.
For GME it was 150 and that held.

You might see a rally into the close and get something like a spinning top candle- which is just indicative of indifference. I don’t see why the bulls can’t take one more stab at the highs for both. I’d argue most trades don’t end on a single top- more like a double or triple. But, this instance is not like “most” events in market history.

There’s prob a good chance that the brokers backpedal after all the flak and open trading up again. Retailers can’t really move the market, but, if price moves quick that’ll kick off the quants/algos for momentum trades. And, I’m seeing in a lot of places that people are getting heavily short on GME again. Like they didn’t learn their lesson the first time. Big fish might try to run it up again. And, the second crash after that run will be the one that ends the party.

Many people will lose a lot of money and will never be able to recover. Reddit was the spark, not the actual cause of the squeeze. The volume tells the story of who was really getting in.

Oh and, people are getting paid tomorrow.
And, it takes a few days to open a brokerage account.
And, people are moving from Robinhood.
And, tax returns start soon.

So, I don’t think this story is over.

Tom Sosnoff said: the boy scouts were the first wave, the marines come next. Meaning-- GME was a squeeze where the boy scouts couldn’t defend the upper line. The next attempt at a squeeze will end with blood in the streets and big funds squishing retailers trying to run a heavily shorted stock up.

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It’s difficult for buying pressure to continue if brokers are blocking their customers from being able to buy and only allowing them to liquidate their positions.

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I held out when I saw it hit $40.
Figured “eh they’ve more than doubled it now - shows over”.

What a dumby haha!

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Let me fix that for you…

It’s difficult for buying pressure to continue if brokers are blocking their customers from being able to buy and only allowing them to liquidate their positions (BUT ALLOWING INSTITUTIONS TO TRADE FREELY ON BOTH SIDES OF THE MARKET, AND LEVER UP WITH OPTIONS)

AND

Check the volume profile after each halt…market would halt, and the very first trade to print w/ size is > 1 MIL on the bid. Literally, 3 halts today, and after each re-open the first print is a million share block on the bid…

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I don’t think Robinhood had a choice to suspend buy orders in GME, AMC, and other short-squeezed stocks.

Their book was probably extremely skewed long and with the stocks being so volatile, the clearinghouses probably asked them to post more money.

At first, they were able to, but eventually maxed out their credit line (or near it). And when that happens, the only thing left to do is to prevent buying and only allow selling since selling will reduce their net long exposure (and reduce their deposit requirement).

It’s not like they don’t have the money…they’re just waiting for it. Since Robinhood offers “instant deposits” which allows you to trade immediately instead of waiting the typical 3-5 business days for your funds to settle in your account, they are essentially extending you credit.

So as those funds come in, they’ll be able to post more money (collateral) with the clearinghouses and (probably slowly) lift the “buy” suspension.

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We might have a second chance today. Let’s get in! LOL

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No go on my NOK buy yesterday. Woke up to a “Your order has been cancelled” notification. It’s historic. Who doesn’t want some of this?

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The fact that there was relative strength in GME and AMC when the SPY was down 2.3% is very interesting to me…I don’t think this is over just yet and am still holding.

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It’s pretty scary if you onsider a worst-case scenario.

Let’s say GameStop gaps down overnight and opens at $25 a share the next morning.

I’m sure there A LOT of people buying the stock are buying it with margin account.

If GME suddenly trades at $25 (dropping 300 points from $325), all these traders owe more in margin than they have in their account, and then it’s going to be the brokers iike Robinhood who will be in trouble.

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Spread bet and CFD providers are also tightening up risk.

IG sent out an update on margin requirements. They provide a list of stocks that will require 100% margin.

GME and AMC are also restricted from opening new positions.