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Sean HymanSean Hyman
Post count: 4535

Yep, love it. Sometimes people think “it will take forever” for it to go X percent off of their lows. But the reason why that’s not typically true is because 1) It’s at a deeply suppressed price and large institutions are enticed to come in with a lot of buying volume over time and 2) short sellers are pressured to cover their shorts, and that causes additional buys as they close out those shorts. In this case, there’s 2.3 million shares short that are feeling the pain of its 11% surge higher over the last 2 days. While that’s not a ton of % of shares short, it’s still a bunch of shares that are feeling the heat right now.

KHC’s pop higher off of its lows, BBBY, etc. are examples of how stocks can rocket % wise off of their lows.

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