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HUDI - Huadi International Group Looks Overvalued Based On Fundamentals
Huadi International Group Co. Ltd.
The company manufactures steel pipes and its profits have been negatively affected by high steel prices.
However, Huadi’s market valuation has been soaring since early October and it seems the likely reason is retail investor optimism about a short squeeze.
The short float is low, so a short squeeze seems highly unlikely and I’m bearish.
Unfortunately, there are no put options and the short borrow fee rate is 88.72%. It could be prudent to wait for the latter to decrease before short-selling.