TR - Tootsie Roll gains 6% as short squeeze action outruns underlying valuation

Shares of Tootsie Roll (TR) are up 5.72% in premarket action to $41.00 as the volatile trading in the highly-shorted stock continues. Tootsie Roll is up 30.57% YTD and 17.10% over the last 52 weeks as shorts have yet to see the downside destruction they have been betting on for an extended period of time. Seeking Alpha author Patrick Doyle say he likes Tootsie Roll's wonderful business and sustainable dividend, but leaves some pretty clear advice for shareholders. "I think Tootsie Roll is too expensive at $43 per share. For that reason, I’ll be selling my shares. Just because I don’t think there’s value at $43 doesn't mean there’s no value here. I’d be happy to buy back in at $26, and the options market thankfully offers me the opportunity to potentially do just that," he writes.

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Tootsie Roll gains 6% as short squeeze action outruns underlying valuation