Aug. 12 at 6:10 PM
$RITM Short interest currently remains the strongest squeeze-related signal. We now have the official July 31 number that came out yesterday: 38,943,585 shares short versus 41,483,448 on July 15. So only about 2.54M shares, or 6.1% of the position were covered. Current reported metrics:
* short float: 7.01%
* days to cover: 5.58
* July 31 RITM price:
$9.88.
This is interesting as the run up after earnings wasn’t due to shorts covering… that still needs to happen and delays will cost them 10% dividends so it’s expensive to keep. RITM’s squeeze potential is elevated enough to amplify a rally, but probably not sufficient by itself to create one. The short interest becomes important if another fundamental catalyst forces the stock through resistance ! Fingers crossed that this will happen. I would so love to see management using the buy-back agreement and showing these shorters not to play with RITM or get burned…
