Update #2: $IRNT – Gamma squeeze with >=479% of float claimed by OI & SI
Last post here
I wanted to give an update on the gamma squeeze I’ve been following on $IRNT.
Quick comment on the 13D filing. This was expected (for a change, lol) and the shares are subject to lockup.
Since my last post, the percentage of float claimed by institutional obligations has risen from 273% to 479% of float.
Today we saw movement confirming an active gamma squeeze. Tomorrow, after a gap up, should be the first day of full squeeze movement to be compared with AMC on 06/02 and GME on 01/26 with a peak occurring on Friday. My PTs stay the same, the ones we haven’t hit are now just more likely.
Most Likely: $29 Broken in intraday today 09/15
Likely: $40 Broken in post market 09/15
If everything goes right: $135
If it matches other squeezes: $210
If it goes to the moon: $530
As I said in the other posts, this situation is highly unusual and the low float on this stock enables it to run really fast and really hard when buy volume comes in. This also makes this play very risky so only partake with money that you can afford to lose.
Good luck and godspeed gentlemen.
Disclaimer: I am not a financial advisor and this is not financial advise.
via r/wallstreetbets https://ift.tt/3qhG8Zq
September 15, 2021 at 03:39PM