The biopharma stock shot up more than 865% in 3 days before massive short interest dragged it down almost 50% on Tuesday, but will the Apes pounce?
It’s never fair to paint all retail investors with the same brush, but it’s also rather fair to say that pretty much all retail investors love themselves a short squeeze.
That rather narrow use-case upside had a much larger effect on the stock price, which gained more than 850% over three torrid days of trading going into Tuesday.But as we’ve come to learn from the last few months, not all meme-stock momentum is as authentically viral as it might first appear. Retail investors have also become sensitive to biopharma plays after meme round-trips on stocks like Ocugen OCGN, -3.56%, among others. They are also more generally cautious about squeezing super-small-cap outfits like they did most recently with Phunware PHUN, -0.30%.“LGVN – 110% SHORT INTREST – 3 SHORT SQUEEZE SIGNALS – 100% UTILIZATION – COST TO BORROW WENT TO 450% INCREDIABLE 2.7MILLION FLOAT – all in maybe squeeze harder then yesturday” postulated user michaeldaversa999 Tuesday morning.
But while we fully expect some meme-ish skirmishing in LGVN shares on Wednesday, even the most squeeze-thirsty Apes are looking at the stock and thinking:
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