5 Stocks Setting Up for a Big Short Squeeze Rally
The following five stocks have high days to cover ratios. This ratio is calculated as (current short interest) / (average daily volume). The higher this number is, the greater the negative effect on shorts if the stock turns bullish. If the stock price rises, shorts generally have to buy back the shares they borrower to establish the original short position, and so lose money. The longer the days to cover (i.e., the larger the value) the greater the effect of an increasing stock price is on short sellers.
- Rogers Communication, Inc. (NYSE:RCI): As of April 29th, there were 23,727,305 shares sold short and an average daily volume of 332,253, for a days to cover ratio of approximately 71 days. About the company: Rogers Communications, Inc. i s a diversified Canadian communications and media company. The Company’s activities include wireless voice and data communications services over its national GSM and HSPA networks; cable television, telephony and high speed Internet access services over its broadband networks; and radio and TV broadcasting, televised shopping, magazines, and sports entertainment.
- CBIZ Inc. (NYSE:CBZ): As of April 29th, there were 8,317,417 shares sold short and an average daily trading volume of 132,913, for a days to cover ratio of approximately 63 days. About the company: CBIZ, Inc. provides professional business services to companies throughout the United States. The Company provides accounting and tax, employee benefits, wealth management, property and casualty insurance, payroll, and HR consulting services. CBIZ also provides internal audit, litigation advisory, healthcare consulting, medical practice management, and other services.
- St. Joe Company (NYSE:JOE): As of April 29th, there were 21,446,601 shares sold short and an average daily trading volume of 378,234 shares, for a days to cover ratio of approximately 57 days. About the company: The St. Joe Company is a real estate operating company. The Company provides community, commercial, industrial, leisure, and resort development as well as timber, and commercial real estate services.
- Dole Food Company, Inc. (NYSE:DOLE): As of April 29th, there were 9,389,770 shares sold short, with an average daily volume of 181,076, for a days to cover ratio of approximately 52 days. About the company: Dole Food Company, Inc. produces, markets, and distributes fresh fruit and vegetables. The Company’s product categories include bananas, packaged salads and packaged fruit. Dole supplies wholesale, retail and institutional customers around the world.
- First BanCorp (NYSE:FBP): As of April 29th, there were 5,115,129 shares sold short, and an average dialy trading voluem of 105,819 shares, yielding a days to cover ratio of approximately 48 days. About the company: First BanCorp. is the holding company for FirstBank Puerto Rico. The Bank provides commercial banking services through a network of offices in Puerto Rico and the US Virgin Islands. First BanCorp also operates Money Express, a small loan company and First Leasing and Rental Corporation, a vehicle leasing and rental company.
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