There has been another twist in this crazy tale. S3 Partners who originally called out the fact that the percentage of shares short in Clover Health was greater than 100% have today admitted that the actual short interest sits below 40%…how did they manage to get it so wrong?
We originally spoke about Friday night how a short squeeze was about to begin as the S3 Partners data hinted at another Gamestop occurring. Anyway, despite this glaringly obvious error from them and to be fair questionable confidence in their data Friday night, it doesn’t necessarily mean that the short squeeze is over. The anticipation of the squeeze has been building all weekend with many on Wall street bets hungry for something to get their teeth into like Gamestop and they might have foud their perfect candidate.
Swaggy Stocks detect that currently Clover Health is now WSB second favourite stock to talk about. This is really important because it means that there is build up of potential buyers ready to pounce or at the very least this squeeze has built up significant interest from one of the most influential communities on the internet.
S3 Partners is reportedly partly owned by Citadel who of course were in the lime light a few months ago when Robinhood infamously shut down the buying of WSB favourite stock. Some investors are alleging that Citadel could have something to do with the fake propagation of information from S3 partners to take away some of the heat off of Gamestop.
Whatever the reason, the attention this has caused may drive this stock higher. We will have to wait and see.
While you’re here, why don’t you follow us on twitter? It’s the best place to interact with both the author’s of these posts as well as the wider community. We would really appreciate it! You can find our page here