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/biz/ - Business & Finance

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51045077 No.51045077 [Reply] [Original]

I told you I would post the stock name today. The stock I was referring to was
>Ticker: SFT
It’s like Carvana but smaller. The price is currently .9 something down from $1 last week.
I’m wondering if I should wait till it’s around .6 as it reached this a couple months ago and i don’t like buying high.
In case anyone missed the DD
SFT has roughly 2.95 mill average trading volume. However this is skewed because of a meme stock frenzy it had a while back due to MeetKevin pumping it. It’s actual average is in reality somewhat closer to it’s daily, 7,000-4,000. (-99% from average). It’s float size is roughly 55,500,000 with a 22% short. On the surface that doesn’t seem so crazy to the average investor.
But what this actually means is that with a short of 22%, and daily average of roughly 5,000, that would leave shorts (in the event of a short squeeze) having to buy back 12,221,000 shares.
Best case scenario, with a true average trading volume of 5,000 this would take them 2,444 days to recoup their shares. When the amount of days is over 11, a stock is normally prime for a short squeeze.

>> No.51045213
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51045213

It reached around $13.50 during its meme pump and a .6 low a couple months ago, now sitting around .9 (still can drop 40% to teach that low again which is why we should probably wait to buy) plus if it begins dropping again shorts will probably pile on harder

>> No.51045214

>>51045077
Bump
Waite 4 you Croak
Let me digest ttiis

>> No.51045294
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51045294

>>51045213
Makes sense
Will wait for other thoughts

>> No.51045542

>>51045294
It’ll also probably buy us enough time to get another round of fresh data in regard to the short activity.
The true question is, will people want to buy during a future downturn or is now the time to strike regardless, capitalizing on the current swathe of investors foaming at the mouth to win back their losses on BBBY, or those that missed BBBY before it’s pump and dump and are now yearning to find a replacement. Striking while the irons got kinda deal.