Short Squeeze Favorite Redbox (RDBX) Stock Falls 15%
Investors in Redbox (NASDAQ: RDBX ) and RDBX stock may be asking today — what’s the opposite of a short squeeze? That’s because despite being the #1 short-squeeze stock on Fintel’s list of top short-squeeze opportunities , RDBX stock is in free fall today. At the time of writing, shares of this DVD kiosk company are down more than 17%. This drop appears to be related to an old-fashioned mean reversion trade. After surging from around $2.50 per share in mid-May to more than $17 per share in mid-June, investors who participated in this upside appear keen on taking profits. Those who got in late are selling in fear of downside momentum. Everyone else appears to be on the sidelines, watching it happen. Now, investors are faced with a Redbox trading south of $7 per share. The question is, can momentum be regained? And if so, how much lower can Redbox go before short-squeeze enthusiasts jump on this trade again? Is the Short Squeeze Over for RDBX Stock? Short squeezes are extremely exciting events that are particularly fun to watch, but nerve-wracking to be a part of.
Short Squeeze Favorite Redbox (RDBX) Stock Falls 15%
Investors in Redbox (NASDAQ: RDBX ) and RDBX stock may be asking today — what’s the opposite of a short squeeze? That’s because despite being the #1 short-squeeze stock on Fintel’s list of top short-squeeze opportunities , RDBX stock is in free fall today. At the time of writing, shares of this DVD kiosk company are down more than 17%. This drop appears to be related to an old-fashioned mean reversion trade. After surging from around $2.50 per share in mid-May to more than $17 per share in mid-June, investors who participated in this upside appear keen on taking profits. Those who got in late are selling in fear of downside momentum. Everyone else appears to be on the sidelines, watching it happen. Now, investors are faced with a Redbox trading south of $7 per share. The question is, can momentum be regained? And if so, how much lower can Redbox go before short-squeeze enthusiasts jump on this trade again? Is the Short Squeeze Over for RDBX Stock? Short squeezes are extremely exciting events that are particularly fun to watch, but nerve-wracking to be a part of.