It’s being reported that the Wall Street Bet’s community have a new target in mind after what has been a successful AMC day and that company is apparently Skillz. Considering that SKILZ is one of the more popular SPAC companies to come about this year then it’s no surprise that it will be on their radar, after all the stock has declined by a healthy margin over the past few weeks.
On the news that the company might be in the sights of a massive pump from the WSB community, $SKLZ has been trading much higher after hours. Now up 7.7% since it closed. So, where does this WSB pump notion come from? Well, I’m not too sure myself.
CNBC came out with a video earlier today citing that a trader had entered into a large options position ready for the company to surpass $20 a share (currently trading in the mid $16). They have absolutely no proof whether or not the person buying the shares has even heard of WSB before, yet here they are making the connection. Ever since the video was released the stock has ripped.
Now I am not going to say that its plain stupid to instantly presume that a larger than normal position has to be from a forum of self proclaimed degenerates but it’s not smart neither. So, after releasing how plain stupid it was to assume that one trade had to be from someone in an online community, I decided to dig a little deeper.
I found…nothing. There is absolutely no information leading anyone to the assumption that WSB want this stock to go viral…none.
All of those hoping that the company is about to go completely stupid and march upwards in order of magnitude not seen since the great GameStop rise of January then I am afraid to say that it’s unlikely.
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