Bed Bath and Beyond or ticker $BBBY is back in the spotlight today. The stock squeezed up over 60% today with massive trading volume and price action. The stock ended the day with massive highs followed by a massive selloff which left some of the bulls high and dry. The Daily volume was also through the roof for $BBBY today.
BBBY was at the top of the list today on HighShortInterest meaning that out of the stocks which data was collected among others in the market $BBBY has one of the highest shorted float of all.
Bed Bath & beyond reached over $28 per share during the height of the trading, and even was halted multiple times due to volatility.
AMC Stock and others were also running during today’s trading session which might show signs that the ‘Meme Stocks’ are ready to take off again and short squeeze like we saw happen in 2021.
Highly shorted stocks are an easy target for retail investors, since the short sellers have unlimited risk in shorting these stocks.
BE AWARE OF SHORT SQUEEZE SETUPS
Before you start putting your hard-earned money into the market’s next overly shorted stock, you need to know a few things. Remember that short sellers are hoping for the stock they short to drop in price aggressively so they can buy back their shares for a cheaper price thus realizing a profit… But when things turn upside down for them it can result in a major short squeeze which everyday traders have learned to capitalize off of.