May. 22 at 2:50 PM
$PRTS Some stats from Fintel.io:
⚠️Short Interest Ratio ➡️ 4.75 Days to Cover (significant due to low daily volume; "days to cover" means how many trading days at current volume levels it would take for all current shorts to close their positions)
⚠️Short Interest % Float ➡️ 3.35 % (very small)
⚠️Short Shares Availability ➡️ 3,500,000 (this is from 1 hour ago and just from one brokerage)
⚠️Short Borrow Fee Rates ➡️
$0.41 latest (super low, meaning: there is vastly more supply than demand)
Ergo — the PRTS market doesn't appear to be considering the upcoming reverse split as a major bearish event. If it did, short interest would've been higher, short shares availability would've been lower, and short borrow rates would've been higher.
Last but not least: there is a strong bullish divergence pending on a reliable 3-day chart, with 4x more aligned on lower timeframes. If one is not overexposed here, one should not quit like those who are quitting now.
