Many of you might be wondering what happened to SPRT. The stock climbed before plummeting back down. Even today the stock continues to trend downwards.
If you’re holding SPRT stock for a short squeeze, don’t worry. Some retail investors cashed in and shorts continue to massively short it. But the data doesn’t lie.
Welcome to Franknez.com – if you’re subscribed to the YouTube channel then you saw my announcement about this particular article. Today I’m going to discuss SPRT stock and its short squeeze potential.
Lets get started!
Disclaimer: this is not financial advice but merely my opinions based on the data that is out there. I am a strong believer in the data and so it is my duty and obligation to share it with you.
SPRT Short Interest & Utilization 🚨
I want to begin by saying that I personally took a position in SPRT stock when I saw that the short interest was at 75%. The utilization was around 90 and I decided to park some money in this momentum play.
I’ve been tracking the short interest data to see whether I had made a bad investment and should cut my losses, or whether this power play was only the beginning.
It turns out that although SPRT stock has been taking a nosedive, both the short interest and utilization have skyrocketed!
The current short interest at the time of this publication is: 93.52%
Utilization is at: 96.41
For daily updates on the short interest, bookmark this article here.
Ladies and gentlemen, shorts have not fully covered their positions in SPRT.
Why Is SPRT Stock Going Down?
We have a selloff going on right now with some retail investors still holding some, or all of their stock. Shorts continue to attack the stock in efforts to make money as investors also take profits.
We saw SPRT go below $20 and retest above it again. It’s still too early for me to identify whether this will be a new resistance level or perhaps a new floor.
What I can tell you however is that as the stock price has gone down, the short interest data has surged. This tells me new shorts are getting in on SPRT and perhaps even doubling down on their positions.
SPRT Short % of Free Float
On the latest updated short interest history data from Ortex we can see that the short percentage of the free float has been steadily increasing all year.
And although we can’t see the settlement date for September yet, we know from the short interest and utilization alone that this number is only increasing.
So what the guys who discovered this play really did is just expose this ‘other‘ short squeeze play.
This article is not to tell you to jump in on this play. But rather to let you know that if you’re holding this stock and are negative, don’t cut your losses because there’s a strong possibility this stock can jump back up.
Since the short interest continues to skyrocket, I will be holding my position in SPRT. I would have cut my losses if the short interest data was plunging.
If the SI was continuously going down it would let me know that shorts were getting out of their positions, or the stock wasn’t being heavily shorted anymore.
But when the short interest is this massively high, retail has the power to squeeze shorts from their positions.
SPRT Short Squeeze Prediction
A lot of retail investors who caught SPRT early took profits from the pump to our beloved AMC or GME plays. Kudos to you!
Personally, SPRT is a side mission like it was for many of you. My main play is AMC and I continue to buy AMC. If you’re on my Patreon, you get notified when I add to my position on any play.
If we look at the data from AMC and GME, we’ll find that these plays will have moments of consolidation, upward trends, new floors, and repeat.
Looking at the SPRT stock chart, we can see this pattern too.
Retail has the power to bring heavily shorted companies back to life. SPRT had an IPO price of about $90 per share when it first became publicly traded.
Short sellers have been shorting this stock for years. Their increased positions signals they feel threat from retail investors. Our community is the biggest threat to short sellers right now, and moving forward.
I believe squeezing shorts out of their positions can easily put SPRT stock above $100 per share.
Should You Buy SPRT Stock?
If you’re looking to diversify your momentum plays with another high short interest stock, SPRT could prove to be a profitable trade in the long run.
The float is smaller than AMC’s and GME’s, the short interest is higher, and there’s absolutely opportunity to make money here, at least according to the data.
I’m personally just holding my position in SPRT for now. If add to my position, it will be after I add to AMC or crypto first.
Are you holding SPRT for a short squeeze?
What’s your SPRT story? I’d love to know. Did you get in on the stock early, after the runup? Do you have more information I don’t? Leave a comment below.
But before you do that, I want to say thank you for taking the time to read the blog and I appreciate you being here.
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About The Author
Hello Frank! I’m new and crazy about your blog. I find out about stocks that I want to buy in different ways. To confirm, I read your blog and I’m always right! I see #SPRT like you. Thank you!
I really appreciate that 🙏 thank you for being a reader! Happy to hear my content is bringing you loads of value
Greetings! I’m fully dependent on your comments about stocks to know whether or not I’m doing the right thing. I bought into SPRT when you first sent it a message but I missed the run up. I hadn’t even realized that it happened until this week when they were chasing about it. I panicked and thought I had made a bad investment. I’m just a few months into stocks, I’m a complete newbie. I’m holding a few shares of AMC as well. If be so grateful if you’d anode when the squeeze was happening in SPRT so that I may know when to sell. I know it’s asking alot but I would be most grateful. Thank you for all you do!
Hi Sandy, happy to hear that you find my content valuable. Although I push this information out to the community, I suggest doing your own due diligence too so that you are 100% ready to pull the trigger on any financial investment. I could’ve been wrong about AMC but majority of the community is seeing gains now. And just like AMC, the information I’m publishing is based on very similar data and market trends. And you bet I’ll be covering these squeezes! Thank you for commenting 🤝
Love the article. I bought some SPRT on Thursday because I also saw the short squeeze data. Still new to understanding all this stuff, so your article helps!
Happy to hear you’re gaining value from my articles, Parker. The short interest data needs to become public so that investors like you and I can make a financial decision based on the information. Thanks for commenting! 🤝
Thank you Frank, I’m just new to investing this year and feel more confident holding and a better awareness for selling at a peak. Bought 4 shares of sprt at 8.56 and sold one over 16 (my safety net) another at over 36 and one more at over 53! Kept one to track the stock and bought in again at 22. So now I’m holding 8 shares. Also increased AMC on the climb to 25 share. Then buying back into sens on monday- hopefully about 19 shares, some risk here not knowing who is going to hodl, that is why AMC stands out to me is expensive, but people very apeish^^. Helping my portfolio after going deep red since stocks started dropping off in July. I lost about 1,500 in value. This is how to correct the market in an empowering way. Regards, T.
Todd, very cool to see that you’re having your money work for you brother. I’m proud of everyone who is willing to learn and to take calculated risk to multiply their hard earned money. Thanks for commenting 🤝