IBRX - ImmunityBio: Positive Near-Term Catalysts Create Strong Short Squeeze Potential
2024-06-25 15:44:03 ET
Summary
- IBRX has a short interest % of the float of 33%, superior to GME at 21%. Investors should keep an eye on it for short squeeze-fueled volatility.
- IBRX has positive catalysts on the horizon, such as the commercialization of Anktiva for bladder cancer and the FDA review of Anktiva for lung cancer.
- IBRX has an overleveraged balance sheet, but the billionaire "face" of the company, Patrick Soon-Shiong, will ensure it remains solvent. Any capital raises from him likely won't increase the float.
GameStop Corp. ( GME ) has recently proven once again that the market is inefficient and a stock is worth exactly how much someone is willing to pay for it. One Tweet after three years of silence from a popular figurehead involved in GME's massive to run back in 2021, and the stock nearly tripled in price on over 300 million in volume in two days in mid-May. Not even one month later, and it happened again, as "Roaring Kitty" Keith Gill tried to flex his nine-digit figure position. The company wisely decided to use the liquidity opportunity to raise over $2 billion in a 75 million share offering. While this was competent capital management on the part of GME leadership, it quickly extinguished the hype and momentum in the stock....
ImmunityBio: Positive Near-Term Catalysts Create Strong Short Squeeze Potential