Short squeeze stocks are going nowhere in terms of popularity. Whether or not you like it, the investing method is proving to be more and more viable with the transparency of short interest data that exists. Influencers have been able to capitalize on this style and help their followings find the next short squeeze stocks to blow, too, making the barriers to entry even lower. Will Meade, one such short squeeze influencer, is taking to Twitter today to put his followers onto SmileDirectClub (NASDAQ:SDC), and SDC stock is flying upward as a result.
SmileDirectClub is a company that looks to offer its customers an alternative to braces for corrective alignment of teeth. The company creates a unique set of aligners for its customers to use over a period of time; the aligners are clear and much more low-profile than braces.
SDC Stock Booms After Will Meade Tweet Leads to Buyer Influx
Will Meade is taking to social media to point investors toward SDC stock as a short squeeze play. The self-described former hedge fund manager notes SDC’s rampant short interest as reason to buy into the stock:
$SDC short interest almost 40% now, wow!
Top 3 most shorted stocks according to S3$SPRT – SI 71%:Price $19.73$BGFV – SI 42% Price $26.50$SDC – SI 39% Price $5.74
— Will Meade (@realwillmeade) September 13, 2021
These numbers, which Meade takes from S3 Partners’ data, suggest that an astonishing 40% of shorted shares are yet to be covered by short sellers. Naturally, a mobilized body of retail investors can put these short sellers on the hot seat. As they rush to cover their short shares, the stock is primed to surge.
Retail investors are most certainly mobilizing today. SDC is trending across investing corners of Reddit, with many users turning their attention toward the stock’s rampant price movement. Indeed, the short squeeze optimism is precipitating a huge influx of transaction volume. 42 million shares of SDC are changing hands this afternoon, against a daily average volume of 6.6 million. The stock is appreciating by nearly 20% in the wake of the trading frenzy.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.