WKHS short sale restriction in place tomorrow
Friday. Wee we saw WKHS reach a high of 18.50. As you apes know this stock is heavily shorted roughly 40 percent. Since today the stock dropped below 10 percent of the previous days close the short sale restriction will be in effect until the end of day Friday. That means that short sellers can only short the stock on an uptick. This along with the fact that this is not a bad company it only drop from a high in the 40s because of corruption that caused them to not get a contract with USPS leads me to believe we should pump back up to the 18.50 resistance tomorrow. If we see it go beyond that there are currently no true support levels between its current price and the 40s. It dropped fast after missing the expected contract earlier this year. Also if we see it move above the 18.50 resistance it is likely that shorts will cover since they will see the fight is lost. I like the stock.
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June 10, 2021 at 01:00PM