MMAT - SDC Stock: There Are No SmileDirectClub Shares Available to Short
2023-10-02 11:32:33 ET
InvestorPlace - Stock Market News, Stock Advice & Trading Tips
SmileDirectClub (NASDAQ: SDC ) stock is a hot topic among traders after the online orthodontics company filed for bankruptcy.
With that filing comes a reignited interest from investors who may be looking to short squeeze the stock. According to data from Fintel , there are currently no shares of SDC stock available to be shorted. Granted, that number isn’t absolute, but it does act as an indicator for investors that shares for shorting are limited.
This is worth pointing out, as SDC stock has been the target of short squeezes in the past. Considering that Fintel data, as well as the bankruptcy news , it’s possible that the company’s shares could undergo another short squeeze in the near future.
Will an SDC Stock Squeeze Happen?
One thing that traders will keep in mind is the falling price of SDC stock. The company’s shares are down 59.1% as of Monday morning, which has shares trading for about 17 cents. That’s quite the fall when considering the stock traded for $23 during its public debut back in 2019.
That low price and short squeeze potential may encourage retail traders to focus their attention on SDC stock. However, investors will want to be careful even if that happens. While the stock may undergo a massive rally, it could quickly be followed by a rapid fall as retail traders sell their stakes in the company. Keep that in mind before investing in SDC stock today.
Investors who are looking for even more of the most recent stock market news for Monday are in the right place!
InvestorPlace offers up all of the hottest stock market news that traders need to know about today! A few examples of that include what’s happening with shares of WK Kellogg (NYSE: KLG ), Digital World Acquisition Corp (NASDAQ: DWAC ) and Meta Materials (NASDAQ: MMAT ) stock today. All of that info is available at the following links!
More Stock Market News for Monday
- KLG Stock Alert: 7 Things to Know as WK Kellogg Starts Trading
- DWAC Stock: Is Donald Trump Going to Terminate His Digital World Merger?
- MMAT Stock Alert: Meta Materials Teases Class-Action Lawsuit Win
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines .
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