“There are no fundamentals here,” he said (Matthew Tuttle, CEO of Tuttle Capital Management). “This is all investors playing what’s going on with Trump on a blow-by-blow basis, crushing the shorts and creating a short squeeze.”
A short squeeze occurs when investors that bet against a stock are forced to unwind their bets and buy the stock back at a higher price. That in turn drives the share price even higher, creating further losses for short-sellers.
I hope plenty of Liberals got squeezed here, and hard.
Up over 17% on the day.